Wednesday, April 18, 2012

USO showing positive divergences again

Wednesday's EIA reports are a strange experience, we have often had many good counter trend or counter assumption plays, as well as being one of the seemingly most leaked reports.

Since I added some new calls to USO before the EIA report at 10:30, USO has taken a pretty nasty intraday dip, this wouldn't be the first time I have gone through this with USO and still managed a profitable trade.

Here are the most current charts.

 1 min leading positive

2 min leading positive.

I can't say I see a catalyst in the $USD at this point, but I'm still hanging in there with the May calls.

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