Get started
Bryan_Ali

USO Breakout Rejected at Resistance Trend Line- Indicators Bleak

Short
United States Oil Fund (AMEX:USO)  
Bryan_Ali Updated   
AMEX:USO   United States Oil Fund
USO Crude Oil WTI
7
0
uso usoil
Price briefly pierced resistance, although, this was promptly rejected during the US regular session hours. Concerning indicators, the RSI uptrend appears to be broken to the downside- same with the ROC uptrend. Concurrently, the MACD just turned negative. My short-term price targets are $10.90 and then $10.50.
Comment:
The price has fought back more than I thought it would.. I think a retest of resistance is now in store.

Related Ideas

Bryan_Ali
Fibonacci Circles: Price Rejected at 2.618 Extension, Again
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.