I have had a lot of inquiries about USO. Since we determined that USO is primarily a Feb. Crude Contract beast, I have an updated hourly chart here with my comments. For USO, all it needs to do today is close over 37.04. Any signals from USO must be considered secondary vs. the February Crude contract however in my opinion...
I looked at an hourly chart of USO and basically it reflects what we see in the contract... VOLUME OFF THE TOP. However as long as USO can hold above 37.04 still in good shape. Daily Candle trend is GREEN on USO, that's quite a change from months of selling...
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