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    USO DWTI Price Targets & Suggested Stop-loss

    The price targets for the recently posted USO long/DWTI short trade will be T1 at 10.63 (for those only looking for a quick bounce trade), T2 at 10.98 and the current final target of T3 at 11.39. The suggested stop for those targeting T2 or T3 will be on a 60-minute candlestick close below 10.15. [...]

    USO DWTI Trade Setup & Entry

    USO (Crude Oil ETP) is piercing through the bottom of this 60-minute bullish falling wedge pattern on what is likely to prove to be an over-throw of the wedge followed by a reversal & upside breakout. While I'm on watch for signs of a bullish reversal or possible near-term selling climax for a buy signal [...]

    USO, Crude Oil ETF, Pullback Target Zone Hit, Bounce Likely

    Following a failed attempt to break & close above the orange resistance line on the daily time frame, crude reversed off that level & is now approaching decent support as well as my 60-minute chart target zone. While I do expect a bounce in USO (crude oil etf) from or just below current levels, I [...]

    Apr 4, 2016 11:04am|Categories: Gold & Commodities|Tags: , , |3 Comments

    USO Crude Oil ETF Pullback Targets & Outlook

    Member @getitriight in the trading room mentioned being short crude oil via DWTI and inquired about some pullback targets, which are on the 60-minute chart below. Both longer-term & intermediate-term, USO (crude oil etf) still looks bullish. However, the 60-minute charts indicate that more downside is likely in the near-term (coming days) before a resumption [...]

    Potential Bearish Rising Wedge Forming In Crude- Covering Short

    CL (crude futures) appears to be working its way up within a bearish rising wedge pattern although I favor one additional bounce within the wedge before any meaningful downside. With CL & USO (in pre-market) approaching support, I just covered (sold) the pot-shot DWTI (3x short crude) trade that I mentioned taking in Friday's video [...]

    Feb 1, 2016 9:12am|Categories: Gold & Commodities|Tags: , , |Comments Off on Potential Bearish Rising Wedge Forming In Crude- Covering Short

    Crude Oil- USO/DWTI Update

    The previous USO long/DWTI short trade entered on Jan 14th exceeded the suggested stop of any move below 8.54 in USO shortly after the last update posted on Jan 19th.  Accordingly, that trade has been moved to the Completed Trade category although crude oil is still on my radar as another official long trade idea [...]

    Jan 24, 2016 2:05pm|Categories: Completed Trades - Long, Gold & Commodities|Tags: , , , |Comments Off on Crude Oil- USO/DWTI Update

    Crude Oil Update: USO DWTI UWTI CL

    Here's a look a various crude charts. Starting with the 60-minute chart of USO (crude ETP), USO failed to follow-thru on last week's falling wedge breakout but the bullish case has not been eliminated just yet. We still have what appears to be a possible selling climax, evidenced by the recent surge in volume over [...]

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