This is a tough call, for those who are comfortable with leverage and can move quickly, there's probably a nice opportunity here for a quick buck, I'll leave it to you.
This is UCO (3x leveraged long oil which I closed today near the intraday top for a nice 2 day gain) and USO which is the underlying asset UCO is based on.
UCO 2 min went negative this morning, that's why I got out, the 2 min this afternoon is going positive.
The same with USO, except the positive is very impressive.
UCO 5 min has been in line on the way up, there's only a slight leading negative divergence.
This is USO's 5 min chart.
However, beyond this at 10 or 15 min charts, the negative divergences are clear. If I were going to trade this, I'd use options, maybe even the weeklies for a very fast trade to the upside and then get out.
No comments:
Post a Comment