Oil stocks

[cdcaveman]

There is support at $25 in Crude Oil.

Geez.. that low!

 

[Handle123]

For my long term method, crude oil has to go lower than 40 bucks on the weeklies and then I look for patterns, so how much lower, who knows.

 

[Lloyd W. Coutee]

Long term chart looks a lot like a leaking oil drum.... broken and leaking lower $USO

 

[cdcaveman]

It's a consensus , crude to 30

 

[Zestilio]

$USO Not clear on how the futures rollover affect this?

 

[cdcaveman]

http://www.unitedstatescommodityfunds.com/documents/pdfs/unitedstatesoilfund-pro-20150518-1.pdf

a constant rolling in a futures curve... being as it that oil is in contango right now.. every roll is selling low and buying higher causing a negative drift.. people call it different things.. read the prospectus..

 

[Lloyd W. Coutee]

$USO Not clear on how the futures rollover affect this?

We are oversupplied by oil. And beside this Feds Allow Shell to Drill for Oil in Arctic Ocean off Alaska.

 

[GarrettKimmel]

What is the amount of oil in Alaska? Is it enough to affect prices either way? And when will it reach the market? Doesnt seem like too soon.

 

[Phill Twist]

$USO closed up 1.15 percent on Tuesday, August 18, 2015, on 76 percent of normal volume. The bears made the stock sink to a new 52-week low. Due to the stock's strong downtrend, its oversold condition may remain that way and should be discounted.

 

[Lloyd W. Coutee]

Not much analysis needed here