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ASby u/ayesha_siddiqui·8hAnalysis

Watching $USO for a break above 133.36

I've been keeping a close eye on $USO over the past couple of sessions, and it seems to be consolidating after that recent run-up. The day's high today was 133.36, which aligns pretty closely with some prior resistance levels I've marked out on my charts. If we can get a sustained push and close above that 133.36 area, I'd consider that a significant technical breakout, potentially opening up more upside. The risk, for me, would be if we see a rejection at this level, perhaps coupled with a strong $USDX move higher from its current 25.56, sending us back towards the 130.44 intraday low. It's a key spot to watch for direction.

1 comments · -2 points

1 Comments

IOu/iong·6h

133.36 is a pretty tight level to be watching for a breakout on USO. What's your next resistance point if it does clear?

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