USO / Crude Update

This will show you why I went ahead with a partial position in UCO (leveraged long crude and why I saved some capacity to add to the position.

 USO 1 min has a positive divergence on the open.

 USO 5 min is also in a leading positive position, the short term charts are coming in to line with the longer term charts that are the basis of the position.

 The consolidation area that is needed for USO to build up enough accumulation to make a decent upside run, it looks like we are just about passing the mid point and should see it start moving up.

 USO 10 min chart leading positive at the right area in the consolidation.

 USO 60 min also positive in the right area of the consolidation shown above.

Crude futures...

 The 1 min futures intraday could pullback a bit, I may be interested in adding on such an intraday pullback.

 The 5 min futures (and the futures timeframes are stronger than a similar timeframe in USO) is leading positive here.

 15 min crude futures, also looking like the consolidation has been accumulated for a run higher.

Finally the general trend in crude on a 4 hour chart, from the move down to the consolidation with a nice positive divergence.