Based on the 30-60 min USO 3C charts, I still have a bullish bias toward USO, but it is bumping up against some resistance and with the dollar possibly gaining a foothold, a correction would not be unlikely.
USO 10 mn 3C is negatively divergent
As is the 5 min
As s the 1 min with a leading negative bias.
Based on where some of the gaps are and the moving average's historical correlation, I'm guessing a pullback could fall around the red zone.
Also note that the Bollinger Bands have seen an extremely tight period of volatility which is indicative of a directional move coming, from what I see above, I'm guessing it will be a correction down.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
No comments:
Post a Comment