USO (crude oil ETN) is approaching the downtrend line off the highs, offering another object short entry or add-on for at least a quick pullback trade & quite likely a swing down to my final target. Daily chart below. Tip: To reference previous charts & analysis, click on the USO or /CL ticker “tags” at the bottom of this post on rsotc.com (short url)

USO daily Oct 6th

USO daily Oct 6th

Likewise, /CL (crude futures) is also approaching the primary downtrend line (resistance) where at least a tradable pullback is likely & potentially a swing down to the 73070ish support/final target. Previous (Sept 7th) & updated daily charts below. (note: the previous chart that was posted below on Sept 7th was for the now expired Oct contract. As such, the price levels & even the reaction pivots are somewhat different on the current (Nov) contract below.

CL daily Sept 7th

CL daily Sept 7th

CL daily Oct 6th

CL daily Oct 6th

Thanks again for your continued patience & understanding. I’m still without power (working off portable generators) & high-speed internet (this post took me about an hour to complete due to on & off cellular connectivity and unusually slow bandwidth today).

I still like the “formerly” risk-off assets such as Treasuries & gold as well as Bitcoin & Ethereum & will post updated