USO

Held at support (about 27.61). Low volume. 3/10 close 27.83.

3/11 bm

USO

Nice move up. Looks like bar 1 but closed too close to 50% level. Watch for resistance at 50 day EMA (30.13). Considered long with target at 50 day EMA and stop just below resistance, but risk-reward not good (up ~5.2%, down ~6.8%). 3/9 close 28.65.

3/10 bm

USO

Short-term opinion can change quickly. Closed at high on 3/6 and above resistance (about 27.61), but on light volume. Less bullish than I was before Friday open. 3/6 close 27.99
3/9 bm

USO

Bouncing off resistance (about 27.61). Moved above on 3/4 but closed right at 27.61. Heavy volume. Open on 3/5 just below resistance at 27.33, but never went above resistance and closed at 26.56, which is just above 20 day EMA (26.43). Volume was way down. 4 of last 6 days have traded close to or above resistance. Only 2 of the 6 had high volume, both were days it traded above resistance. Seems to be signaling a strong desire by bulls to push above resistance level. Go long now with tight stop or wait for confirmation above resistance? 3/5 close 26.56.

3/6 bm

USO

Bullish momentum as 2/25 and 2/26 up moves occurred on higher volume? Slight close down on 2/27 but on light volume. Still closed above 20 day EMA. Bumping against resistance (about 27.61) however. 2/27 close 27.05

3/2 bm