Recap for the day on $USO $OIL crude oil

Looks like this $75.25 cutoff is going to be the short term bottom here, as it acts as the fourth level to call responsive buyers to the scene

Based on the way $XLI $XLE are set up right now, in face of a pending $DXY dollar selloff, we think that a rally to $85-$90 is going to be the result soon for oil

Of course this would come hand in hand with the convergence toward $TLT $TNX bonds and a contradictory but significant price action in $GLD $GDX gold

We're affirming the view based on the 52-week relative performance between $SPY $QQQ large caps and $IWM small caps ☕️
#uso
#USO #OIL #XLI #XLE #DXY