Crude Oil ETF (USO)
By Mon, Apr 18, 2022
Hey,
Like the rest of the world, I want oil!
Oil has been consolidating over the past couple months, after seeing wild swings driven by interrupted supply and unpredictable demand (I’m looking at you, locked-down Shanghai).
However, the price of oil has found its floor, and now oil is heading back up as we go into the summer driving season, and the war in Europe continues to affect supply.
Not to mention — oil is one of the only proven protection against inflation — which is getting even worse than predicted.
That’s why we want to get ourselves broad exposure to the entire oil market — using the Crude Oil ETF USO.
When USO hits 80, we want to go long — with a target 25% higher, at 100.
As prices rise throughout the economy, oil will keep up. So this play isn’t just about growing your money, but also protecting it.
Today, there aren’t many safer places to be.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
