ETF CORNER

USO : Make or break ?

XLE : RSI superior or equal to 70.

My RSI indicators are showing again a reading above 70. For about a year now, whenever we had readings at or above 70, the next few weeks where rather disappointing for XLE and for USO as well.

Here are some related leveraged ETF's :

DUG (Double short XLE); ERY (Triple Short XLE); (DTO Double Short USO)

USO : Do your part !

 

USO : Where I would short Oil ?

I would feel comfortable shorting USO probably  below the third red arrow if we happen to get there !