I don't often look at ETFs, but I find USO to be very interesting right now. This ETF, United States Oil, closely tracks the price of crude oil in New York.
This market appears to have completed a formation that could have great profit opportunities in the near term.
Video link on next page
What a difference a day makes. The DOW up 277 points, gold dropping 10 dollars and crude oil under pressure and falling to its lowest levels in three weeks. Amazing.
We have said this before, and we will say it again ... Sentiment and Perception rule the markets.
I have prepared a short video on crude oil to show you why we feel it is on the defensive and why we should see some lower to sideways action in the near-term
In the video I will show you precise points where I think crude oil will find natural support before resuming its upward trend.
There is no cost for viewing the video and I think you'll find it both educational and informative.
Adam Hewison
President, INO.com
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