The strong sell-off of USO (the light sweet crude oil ETF) has reached the important 61% Fibonacci retracement, which coincides nicely with an earlier support/resistance line at 11.65. At the same time, the RSILaguerreTime indicator generates a perfect entry signal in the daily D-chart (left), with fractal energy (red) completely exhausted and the RSI-Laguerre line (green) maxing out the oversold situation. For a trade entry long, trigger signals from the 4h-Chart (right) are needed, showing a moving average cross-over and break of symmetry of the downtrend.
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