USO: US Oil Heading Down In Concert With Light Crude Oil Futures
This is the third chart I am publishing relating to Light-Crude-Oil-Futures.
This one is for-US-Oil. (The second one was for the oil-service sector, which is heading down).
All three are very weak on the technical charts.
It stands to reason that if Light-Crude-Oil is going to sell down, the oil-service sector and US-Oil will be weak also.
All would confirm each other.
Just as with Light-Crude-Oil-Futures, There are many sell signals.
1. Sell Fractal in effect (rectangle on chart).
2. Alligator jaws opened in tandem with sell Fractal. Alligator feeding in down-trend.
3. Chop indicator (under chart) (indicates a trend or choppy action) is below the 38.2 shaded area. This indicates a strong trend coming that is down.
4. Phase energy (lower top indicator) is heading LOWER.
5. Momentum (middle top indicator) is the 5/34 measure, and this is heading lower.
6. Prices are trading below the Ichimoku Cloud .
8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud. This is a sell signal.
9. Prices are trading below the thick red Ichimoku Cloud conversion line. This is a sell signal.
9. The trend-line is heading down (thick golden line just above the Ichimoku Cloud ).
I think US-Oil is heading LOWER. I believe Light-Crude-Oil futures are heading LOWER. I believe the oil-service-OIH-ETF is heading LOWER.
Good luck to you in all your trades. Don.
This one is for-US-Oil. (The second one was for the oil-service sector, which is heading down).
All three are very weak on the technical charts.
It stands to reason that if Light-Crude-Oil is going to sell down, the oil-service sector and US-Oil will be weak also.
All would confirm each other.
Just as with Light-Crude-Oil-Futures, There are many sell signals.
1. Sell Fractal in effect (rectangle on chart).
2. Alligator jaws opened in tandem with sell Fractal. Alligator feeding in down-trend.
3. Chop indicator (under chart) (indicates a trend or choppy action) is below the 38.2 shaded area. This indicates a strong trend coming that is down.
4. Phase energy (lower top indicator) is heading LOWER.
5. Momentum (middle top indicator) is the 5/34 measure, and this is heading lower.
6. Prices are trading below the Ichimoku Cloud .
8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud. This is a sell signal.
9. Prices are trading below the thick red Ichimoku Cloud conversion line. This is a sell signal.
9. The trend-line is heading down (thick golden line just above the Ichimoku Cloud ).
I think US-Oil is heading LOWER. I believe Light-Crude-Oil futures are heading LOWER. I believe the oil-service-OIH-ETF is heading LOWER.
Good luck to you in all your trades. Don.
