USO Forecast 10/6/2015

201510.06
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The United States Oil ETF (USO:NYSEArca) is a proxy for the spot price of West Texas Intermediate (WTI) light, sweet crude oil. Oil prices have been hammered recently, and are showing signs of reversal. We don’t have a specific trade opportunity at this time, but we wanted to initiate coverage of this all important commodity to help you understand why we have been so focused on the energy sector of late.