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Articles tagged with: USO

Published on: July 10, 2010 No Comment

“ETFs Trading Map” for July 12, 2010: “…Commodities ETFs: We’ve noted in the previous update that: “USO is trading within the lower portion of its short-term trading range. Money Flow measure is holding well above the May low, indicating that selling pressure may be easing. This is a short-term positive and suggesting that the May low will hold. So we should expect additional consolidations between 31.85 and 37.23.” As anticipated, USO rebounded nicely off support near 31.85, or the bottom of its short-term trading range. While the short-term trend is now…” Subscribers, please login to read more.

Published on: May 16, 2010 No Comment

“ETFs Trading Map” for May 17, 2010: “…As for oil, we’ve noted in the previous update that: “USO sold off sharply early last week. Although it’s now extremely oversold, Money Flow measure had also broke down significantly. So it’s possible that we’ll see a test the bottom of its multi-month trading range of 34.” As anticipated, USO sold off sharply and traded as low as 34.50. It is now extremely oversold. So it’s possible that we could see a…” Subscribers, please login to read more.

Published on: May 2, 2010 No Comment

“ETFs Trading Map” for May 3, 2010: “…Commodities ETFs: We’ve noted in the previous update that: “USO rebounded nicely off support at the middle of their short-term trading ranges…This is a short-term positive but let’s noticed that not only that they’re now getting closer to overbought than oversold levels, the short-term trend still favor further range bounces. So it wouldn’t surprise us to see a test of the bottom of their short-term trading ranges in the coming days.” As anticipated, USO sold off sharply early last week and test the bottom of its short-term trading range, around the 39 area, before buyers stepped in and pushed prices higher. Although the short-term trend is now neutral, Money Flow measure remains negative so we do not envision…” Subscribers, please login to read more.

Published on: April 18, 2010 No Comment

“ETFs Trading Map” for April 19, 2010: “…Commodities ETFs: We’ve noted in the previous update that: “USO is currently in a short-term pullback consolidation, which represents the digestion period in the aftermath of the late March massive rally. The overall trend remains bullish so it’s possible that we’ll see a test of the top of its short-term trading.” As anticipated, USO rebounded nicely last week, it traded as high as 41.96 before sellers stepped in and pushed prices lower. The short-term trend has turned bearish followed recent decline so it’s possible that….” Subscribers, please login to read more.

Published on: March 20, 2010 No Comment

“ETFs Trading Map” for March 22, 2010: “…Commodities ETFs: We’ve noted in the previous update that: “USO remains in bullish trend but it’s is now overbought following recent advance so we’d wait for a pullback…before committing some money.” As anticipated, USO sold off sharply last Friday, down nearly 2%. The short-term trend is now turned neutral, indicates range bounce trading pattern. So we should expect a….” Subscribers, please login to read more.

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