Posted by frtaylor on 15th of Mar 2012 at 11:47 am
Steve or Matt, with USO having filled the gap and bouncing, do
you view this as a potential long? What would you look for as
a trigger? Or is the gap fill and bounce itself a
trigger?
frtaylor - regarding USO, remember it follows crude oil, so it's
better to refer to a crude oil commodity chart.
otherwise for USO, yes it filled the gap, but for now it's still
pretty ugly, the 50% Fib is an area to look for some support.
Stochastic is not oversold on the daily chart. The 15 min
chart has no positive divergence, you at least want to see a
reversal in those areas
USO filling gap
Posted by frtaylor on 15th of Mar 2012 at 11:47 am
Steve or Matt, with USO having filled the gap and bouncing, do you view this as a potential long? What would you look for as a trigger? Or is the gap fill and bounce itself a trigger?
frtaylor - regarding USO, remember
Posted by matt on 15th of Mar 2012 at 11:59 am
frtaylor - regarding USO, remember it follows crude oil, so it's better to refer to a crude oil commodity chart.
otherwise for USO, yes it filled the gap, but for now it's still pretty ugly, the 50% Fib is an area to look for some support. Stochastic is not oversold on the daily chart. The 15 min chart has no positive divergence, you at least want to see a reversal in those areas
thanks -
Posted by frtaylor on 15th of Mar 2012 at 12:02 pm
thanks -