BY LICIA LESLIE 

August 16, 2023

Hey Shoppers,

Check out the United States Oil Fund (Ticker: USO) chart:

It’s had a really nice run up since June 28th, up almost 24% at its high.

USO has since pulled back and seems to be sitting at some support here.

I think if it trades below $72 it can come back down to $67.50 which is where the 200 day and the 50 day moving averages converge.

RSI has topped out and is going lower, and MACD is rolling over.

The key is to wait until it closes below $72 before hopping into those puts.

Trade Review

Honeywell (Ticker: HON) was not ready to rally off that bullish engulfing candle, but it did hold the recent low, so far. I am still watching for some bullish action.

Apple (Ticker: AAPL) is still wallowing in that $177-$179 area. Keep your eye on the next move.

Thanks for Reading … See You Next Tuesday,

Licia Leslie