USO looking like it wants to go lower from here. Besides making lower lows, RSI and implied volatility are trending in opposite directions, with vol wanting to go up and RSI looking for new lows.
With ES/BR showing that the s&p500 is going to outpace oil
and XLE looking like garbage over the last few weeks
I am thinking some more pain coming to commodities - specially with the DXY ripping.
Previous USOIL idea:
With ES/BR showing that the s&p500 is going to outpace oil
and XLE looking like garbage over the last few weeks
I am thinking some more pain coming to commodities - specially with the DXY ripping.
Previous USOIL idea:
