Oil Continues To Surge Past Recent Highs

Prosper Trading’s Crude Oil expert, Patrick Assalone, continues with his bullish position in the West Texas Intermediate (WTI) etf, which is called USO.  The United States Oil Fund® LP (USO) is an exchange-traded security designed to track the daily price movements of West Texas Intermediate (“WTI”) light, sweet crude oil.  USO issues shares that may be purchased and sold on the NYSE Arca.

This first MarketProfile (MP) chart is showing us current volume.

This second chart is what he calls the “Algo” chart.  It highlights where he got into his initial position and also shows where he added to his already bullish position:

CURRENTLY LONG 750 SHARES

JUST ADDED 250/SH @ 13.24 TO PRIOR POSITION OF 500 INITIATED @ 13.08