United States Oil Fund (USO)

[ITMS]

Oil ETF $USO Hits Major Double Top, Finally Becomes A Pull Back Trade

Shares of the United States Oil Fund LP (NYSEARCA:USO) finally hit a double top at $12.42, correlating perfectly with the $62.20 major pivot high on crude oil from 2015. The odds now favor a pull back in crude oil for the next week or two. Look for a retrace back to maybe as low as $55.00. If that happens, the $USO could see $10.50 or lower. Playing this with the 2x short ETF $SCO.




Gareth Soloway
InTheMoneyStocks