USO Update

"If" I didn't already have exposure to USO on the short side, I would consider opening a partial position with a wide stop allowing for the break above resistance to add to the position, that's the pivot, the thing is oil is not as easy to manipulate as a stock.

Here's USO thus far, you already saw the longer charts so I won't post those again, the big difference between this post and the earlier is the leading positive divergence has seen USO move up to it and it is now simply in line, also there's been NO migration of the 1 min divergence as the intraday charts remain in leading negative positions.

I'm happy I have exposure to USO short already and I'm really hoping we get this move above resistance, I'll just be patient and see if the trade comes to us.

 The bearish descending triangle that  was a head fake move in yellow, the reversal day as an "almost" bullish hammer with the volume increase needed for a reversal day.  To the right, resistance and what I'd like to see short term with a move above to short in to.

 The 1 min leading positive divergence is now in a green box meaning it is now trading in line, I'm not sure USO can make it much higher without some divergence supporting it here as this one was used up on the EIA release and subsequent move.

 As mentioned, even at 2 min there is NO migration of a positive divergence, this is leading negative, this is what I wanted to see, just with price a bit higher.

The 3 min is even worse, leading negative.