USO / UCO Update

If you like the trade idea of USO / UCO long, it has pulled back and the initial position I opened earlier I would open again here if I hadn't already. For an add to, I'd prefer to get a better price to make it worthwhile, but for now I'll just wait and see how things develop.

Here's the update on the pullback...

 USO 1 min still in a leading positive position with an in line intraday pullback at the green arrow.

 USO 5 min in a leading positive position gives USO a more bullish near term outlook.

 The same in the 10 min chart

So this 1 min intraday pullback looks as good a place as any to start a position, as mentioned, to add to the position I'd like to have a reason which would be lower prices. The other thing that might cause me to add even in this area would be a very strong intraday positive divergence building showing that USO is near an imminent take off to the upside.