Following up on today’s earlier email USO jumped up and is looking to extend the trend and set up a solid directional call trade. The gap up pushes this ticker back in line with the uptrend it had been in prior to its recent dip about a week ago. If we follow that trend up it provides a nice price target to use for the call trade. It is currently priced reasonably and worth considering.

Here is the chart and the trade:

If the trend is regained it is reasonable to expect USO to move to and above 140, making it a solid strike for a Oct 16 call. Currently sitting at $5.60 it is affordable to get into. We are going to keep an eye on it this week and send you updates as it moves.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily

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