As per yesterday’s video, /CL crude oil futures would (if it continued to fall to), and now does (as it did), offer an objective long entry here at support with positive divergences on this 60-minute time frame with stops somewhat below, ideally on a daily closing basis. 60-minute chart below followed by the 60-minute chart of USO (crude ETN) for reference.
CL 60m July 30th
USO 60m July 30th
USO would also offer an objective alternative entry or add-on to a starter position taken here at the key 74 price support (bottom of my YELLOW ZONE) on another slight drift lower down to the primary uptrend line off the March 2023 lows. One could also use a stop on a solid daily close below that uptrend line. Daily chart below.
USO daily July 30th