Oil has been going up lately. Lets look at United States Oil (USO) a investment fund that seeks to reflect the performance, less expenses, of the spot price of West Texas Intermediate (WTI) light, sweet crude oil. The fund will invest in futures contracts for WTI light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum based-fuels that are traded on exchanges. It may also invest in other oil interests such as cash-settled options on oil futures contracts, forward contracts for oil, and OTC transactions that are based on the price of oil.
The fund has spent most of the time in "Bullish" phase since July 2007. There were occassional pullback to "Warning" phase but such pullback actually turned out to be buying opportunity.
The graph looks extended at the moment but the trend is still "Bullish".
The fund has spent most of the time in "Bullish" phase since July 2007. There were occassional pullback to "Warning" phase but such pullback actually turned out to be buying opportunity.
The graph looks extended at the moment but the trend is still "Bullish".
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