Oil stocks

Geez.. that low!

 

For my long term method, crude oil has to go lower than 40 bucks on the weeklies and then I look for patterns, so how much lower, who knows.

 

Long term chart looks a lot like a leaking oil drum.... broken and leaking lower $USO

 

It's a consensus , crude to 30

 

$USO Not clear on how the futures rollover affect this?

 

http://www.unitedstatescommodityfunds.com/documents/pdfs/unitedstatesoilfund-pro-20150518-1.pdf

a constant rolling in a futures curve... being as it that oil is in contango right now.. every roll is selling low and buying higher causing a negative drift.. people call it different things.. read the prospectus..

 

We are oversupplied by oil. And beside this Feds Allow Shell to Drill for Oil in Arctic Ocean off Alaska.

 

What is the amount of oil in Alaska? Is it enough to affect prices either way? And when will it reach the market? Doesnt seem like too soon.

 

$USO closed up 1.15 percent on Tuesday, August 18, 2015, on 76 percent of normal volume. The bears made the stock sink to a new 52-week low. Due to the stock's strong downtrend, its oversold condition may remain that way and should be discounted.

 

Not much analysis needed here