In the last post about USO i talked about the fact that the speed at which Oil is falling would alleviate.
We had an encouraging technical sign on wednesday, a "doji". At the end of a series of weeks of steep declines this "doji" could be a first sign of a stabilization of Oil prices... Let's see if USO does not fall below $29 again. If it doesn't,then it would mean that USO could stabilize and build a base from here before making a technical bounce.I'll keep USO and DXO on my watch list and will make a post as soon as I think that it's safe to try to dip a toe in the water.
For those who are holding DTO I would suggest to put a stop at $153.