The 5 min chart is mostly in line until the open yesterday where it is at a relative positive divergence followed by a leading positive divergence and is yet to make a lower low. I'd consider this a speculative, short term long trade.
Tuesday, July 24, 2012
USO Possible EIA Energy Report Leak
The report comes out tomorrow at 10:30 a.m. EDT, here are the USO charts, this would be a very speculative trade as well as short term.
USO 2 min from negative at the top to lateral the last 2 days with a relative positive divergence
USO 3 min with a leading positive divergence at yesterday's open as USO continues sideways (often where we see accumulation and distribution).
The 5 min chart is mostly in line until the open yesterday where it is at a relative positive divergence followed by a leading positive divergence and is yet to make a lower low. I'd consider this a speculative, short term long trade.
The 5 min chart is mostly in line until the open yesterday where it is at a relative positive divergence followed by a leading positive divergence and is yet to make a lower low. I'd consider this a speculative, short term long trade.
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