"USO is showing continued relative strength to act as the market’s oil-price proxy, suggesting the path of least resistance in the current tape remains tied to crude momentum."
@ ~$147.61
"Nasdaq Record w/ Hormuz Wildcard"
Latest analyst takes
"USO is showing continued relative strength to act as the market’s oil-price proxy, suggesting the path of least resistance in the current tape remains tied to crude momentum."
"USO appears to be the beneficiary of the same breakout in crude, having gapped up overnight as oil hit the Iran-war peak levels."
"I pointed out USO jumped significantly overnight as oil surged on Iran tensions and suggested oil ETFs could continue higher if the conflict escalates, while advising profit-taking near prior resistance around 43–44."