Again, Friday's USO call position was always expected to be a short term, though worthwhile trade, not much more,
Trade Idea: USO (Speculative)
The charts have started deteriorating today as hasn't added a penny as of right now since we closed the call position this morning,
USO Follow Up.
I expect a very near term small bounce in the $USD which should help the USO short/put position as well.
USO 2 min intraday is leading negative, if it gets much worse and price stays relatively flat, I'll add the second half of the position to bring it up from speculative to full size.
This divergence is migrating and has made it as far as the 5 min chart which is impressive considering it's fairly new intraday.
The longer term or bigger picture charts like the 10-15 min charts have leading negative divergence so it was always extremely unlikely that the USO move up would be anything more than a quick blip.
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