Tuesday, July 16, 2013

Liking USO here as well

Again I'm already set with USO puts from yesterday and DTO long from late last week, but if I were looking for an entry or an add-to spot (considering how speculative oil is with fundamentals in Egypt), this is the area I'd be taking action.

 USO 15 min negative so the overall timing is in the right area.

USO 1 min is an example of one of those charts where the intraday 1 min (where ALL new divergences start) has turned quite negative.

The 3 min chart never even really even went intraday positive so I don't think this looks good for USO near term.

5 min crude futures saw an intraday positive as far out as 1 min, but given what we see on USO and...


given there's nothing positive on the 1 min intraday crude futures, this isn't looking very good either.

And the 15 min Crude futures were never effected by today's intraday activities, it just keeps heading lower.


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