Beware Of This Scary Pattern: $USO
As the overall markets fall sharply today, the United States Oil Fund LP (ETF) (NYSEARCA:USO) which is a popular ETF that tracks the price of oil has put an extremely bearish pattern in place.
Today, the United States Oil Fund LP (ETF) (NYSEARCA:USO) gapped down below a major trend line, triggering a Head and Shoulders top around the $36.92 level. This ETF is now trading around $36.40, down close to 1.50% for the day as the sell off intensifies.
The United States Oil Fund LP (ETF) (NYSEARCA:USO) will have some support at the 200 day moving average at $36.13 but the only ultimate target will be $34.40.
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Today, the United States Oil Fund LP (ETF) (NYSEARCA:USO) gapped down below a major trend line, triggering a Head and Shoulders top around the $36.92 level. This ETF is now trading around $36.40, down close to 1.50% for the day as the sell off intensifies.
The United States Oil Fund LP (ETF) (NYSEARCA:USO) will have some support at the 200 day moving average at $36.13 but the only ultimate target will be $34.40.
To get our live trade alerts like this 10% profit earned in 3 days and more, join us at the Elite Round Table right now!
inthemoneystocks.com/elite-round-table
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.