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.