United States Oil Fund LP (NYSEARCA:USO) opened lower and continued to flush down. Spot crude oil has fallen off a cliff recently on global demand worries. However, today it appears oil has put in a near term bottom. Why? The United States Oil Fund LP hit a double bottom (as seen on the chart below) as well as a bottoming tail. Both things signal a bottom in the near term and upside is likely.
Did you see this signal when it happened? We did and alerted our Research Center members to buy the United States Oil Fund LP (NYSEARCA:USO). They are already in the money on the trade. Take the seven day free trial today.
Gareth Soloway
