Welcome, Guest
Username: Password: Remember me

TOPIC: Oil Bottoms: Great Chart Setup On The United State

Oil Bottoms: Great Chart Setup On The United State 3 years 1 week ago #10586

  • inthemoneystocks
  • inthemoneystocks's Avatar
  • Offline
  • Senior Boarder
  • Posts: 65
  • Thank you received: 5
  • Karma: 0
United States Oil Fund LP (NYSEARCA:USO) opened lower and continued to flush down. Spot crude oil has fallen off a cliff recently on global demand worries. However, today it appears oil has put in a near term bottom. Why? The United States Oil Fund LP hit a double bottom (as seen on the chart below) as well as a bottoming tail. Both things signal a bottom in the near term and upside is likely.

Gareth Soloway
InTheMoneyStocks
The administrator has disabled public write access.

Member Login