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uso ready to go ?


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#1 gannman

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Posted 18 April 2022 - 12:18 AM

uso had a huge rally from dec 20 to mar 8 . it seems to have bottomed after 34 days of correction 

 

and i believe is heading for a huge rally here. just my take 

 

 

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Edited by gannman, 18 April 2022 - 12:28 AM.

feeling mellow with the yellow metal


#2 MikeyG

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Posted 18 April 2022 - 06:30 PM

Looks ripe for a rally along with a bunch of other commodities

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#3 flyers&divers

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Posted 18 April 2022 - 11:29 PM

For a swing it is late as it is already at the top of volatility bands on my 1Hr 2Hr charts.

I agree that it is setting up for a further up move. A few days of sideways or down to support at $78 

to tease shorts would make it a perfect setup.

The best moves happen when there is an element of surprise, for example members of a very crowded trade get complacent. 

Would an up move on top of this recent leg be a surprise?

 

Regards,


"Successful trading is more about Sun Tzu then Elliott." F&D