USO Update

USO is moving up a bit, but it doesn't seem out of the recent norm, which is hard to track with the trend channel this early so I'm using a moving average.

 1 min 3C USO positive divergences in white

15 min USO chart with a 50 bar m.a. The recent trend of lower lows and lower highs is what should be watched, USO made a lower low today so it's only normal for it to make what should be a lower high. There's a small gap in yellow from today's open.

As you can see it is clearly a FX correlation based move as the Euro is represented in red.