USO - United States Oil Fund ETF

Technical setup: 50% Fibonacci retrace and descending trend line confluence gave 75% probability of a short. Price reversed as predicted.

Gareth entered a short position near $90 based on a 50% Fibonacci retracement and a downsloping trendline offering resistance. Calming Iran-U.S. headlines are expected to push oil lower, adding profit to the short trade.

Short trade initiated at $80 based on 50% fib retrace and downtrend line resistance; the trade is working with a 4.5% drop.

Short position from $87-$88 with average near $90; expects pullback due to Fibonacci resistance and midterm politics.

Resistance at $87-88, downside target $79-78 range. Short position initiated.

Oil approaching $87 resistance, a level where prior support becomes resistance. Probability favors a pullback, making it a shortable swing trade.

Shorting crude oil at $87 on retracement to broken support, expecting a high-probability rejection based on prior support-break-retest pattern.

Bullish on oil prices due to Iran tensions and potential supply disruptions.

Bought oil at gap fill (around $68) and sold half after 10% rally; still holding remainder for potential upside to $78-$79.

Oil is 40.95% off highs; if the US-Iran ceasefire holds, oil may continue pulling back, but if it breaks, oil could go much higher.