With the Silver/Gold ratio indicating that our inflation trade plan is on track…
…and with the fact that crude oil fund USO is trending up vs. WTI (not always the case)…
…and the oil seasonal average up into October…
…and crude oil hedgers aligned contrary bullish…
…and the chart of USO telling me it’s in a potential bottoming pattern, I am going to add USO for a trade that appears to have a lot going for it. Nothing is a sure thing, but I really like the confluence of positives here.
[edit] I neglected to mention that the pattern measures to around 78 and there is a massive gap up there as well.
NFTRH++ trade setup ideas are presented for consideration and further research only, not as recommendations. I may or may not personally take positions in all or even most NFTRH+ ideas, as it would depend on my portfolio composition at any given time. “Stop loss” and target levels are usually noted and should be respected.
Nice setup. I’m more intrigued with the likes of a VAL or NE chart. Also, I’ve never done well with the USO vehicle and stopped trying it given my track record. Overall, I’ve been mostly bearish crude for a long time and I wonder if it still has one last flush on the horizon back half of 2025, but there are several inklings that it may already be done (your post included).
For me it’s just a near-term trade, considering the inflation trade scenario. Target around 78. I’ll edit that into the post. BTW, the two you mentioned look like bottom feeder specials.