USO (Crude Oil) analysis

USO is proxy for Crude Oil Price, this means that if crude go up 5%, USO will go 5% up.
Same for downside.

If you are familiar with GLD, is same idea.

However, unlike GLD which is around 75 USD now (Gold @ 750), here price is totally different as a digits.

There are one more ETF that tracks crude, its code - OIL, but the volume there is low.

USO 3mo chart:The rectangle is defenetly broken (not quite seen on the chart)
USO 1 year chart:Upper channel... We may see down to 55 USD per share - good time to buy.

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