Trend Trading: crude oil update

The United States Crude Oil ETF (USO), is Bullish or Long. The ETF is trading in excess of a 15% annualized rate of growth over a 200 day moving average. The ETF closed the Week down 5.82%. Mild deterioration in recent trading is indicated by a negative short term MACD. The long term MACD is positive. Price support is just below at $39.90, as shown on the stock chart below. We’ll see if the ETF is at a top, at least temporarily, or if it has more room to run.

United States Oil ETF (USO)

Published by Trendanomics

Trend trading analysis of the markets with simple trend trading strategies.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: