Gary Kwapik
Marketfy > Gary Kwapik > Morning chart- USO starts to move!

Morning chart- USO starts to move!

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Hello Everyone,

Revisiting the USO Oil fund etf  with a bounce in oil it  is now starting to move off the possible bottom. High IV suggesting in our weekend summary for a possible covered call setup here. +DI is starting

to get ready to cross -DI as volume is picking up in the etf. A pinch in the MACD  and ADX heading  in opposite directions is suggesting a up move from here.

The Fib retracement shown on the hart shows the first level of 23.6% at the 22.5 level with the more popular 38.2% at the 25 level.

USO

Posted to Stock & Option Scout on Feb 03, 2015 — 9:02 AM
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