USO Trade Setting Up

It looks like we have a trade on deck ready to jump in to the boat, these are the ones I like, it's Oil or USO (short), SCO could be used (long) also.

The beauty is the lower risk, if it doesn't give us the setup with lower risk, we don't have to take the trade, it's good to be picky and that's your edge over Wall Street.

I don't envision this as a primary trend trade, there's too much uncertainty in the world, but a trip to about $30 sounds about right and with a little leverage like SCO, it looks all the better.

 Here's a flag-like consolidation, except it's actually a bullish ascending triangle, in either case what we want to see is a gap up above the $34.70 area, $35+ would be good. So long as the charts stay negative on that gap the way they did when the SPTY tried to break out intraday today, the trade should be great.

 Short term it's going negative, so it seems as if it is close to being ready, the head fake move is all that is really left.

 The mid-term charts are negative-10 min

The 15 min-and this is about all we need to get to $30.

As for CL/Crude Futures...

 CL 30 min


CL 60 min

They're on board too.