Comments on: USO Challenging Trendline Resistance https://rightsideofthechart.com/uso-challenging-trendline-resistance/ Stock Trading, Investing & Market Analysis Thu, 09 Mar 2017 02:20:01 +0000 hourly 1 https://wordpress.org/?v=7.0 By: jegersmart https://rightsideofthechart.com/uso-challenging-trendline-resistance/#comment-850 Thu, 04 Feb 2016 17:30:59 +0000 http://rightsideofthechart.com/?p=169651#comment-850 Just by way an additional observation, a lot of producers are selling forward as far as I can see – in January the possible exchange for physical towards month end could have resulted in a rally…potentially……I wonder if this may become a tradeable event in itself over the coming months…..? Just a random thought….

]]> By: jegersmart https://rightsideofthechart.com/uso-challenging-trendline-resistance/#comment-849 Thu, 04 Feb 2016 17:28:40 +0000 http://rightsideofthechart.com/?p=169651#comment-849 I wonder if this may be a false breakout if we get one…..the fundamentals are very poor for oil in general and the forward curve support storing and selling forward. Every financial institution I have spoken to is short prompt months and long back end – so to me it looks like this will continue and even accelerate. I am looking for late teens on oil unless there is some real demand coming in from somewhere…..

Just a view from the fundamental side, the technical set up looks objective and valid to me but I would be very careful and of won’t be taking a position currently – either direction….

Good luck all.

]]>