USO continues its up trend in an uptrend channel. The US Oil ETF recently rebounded from the 61.8% Fibonacci Retracement level after showing a Bullish Kicker reversal candlestick. Current USO price at $11.66 is just above the 200D SMA of $11.65.
- Immediate resistance at $12.47
- Immediate support at about $11.13 followed by $10.52
- 20/40EMA, 20/50 SMA all trending up
- Expect golden cross 50D/200D in next few trading days if USO stays above $11.13 support.
See previous USO chart and technical analysis here.