USO Bounce

USO looks like it's going to bounce a bit as well, it's not a trade I'm interested in, but I thought I'd point it out. It looks like it is making a head fake move right now (hitting stops and creating new shorts) so it's probably close to making an upside move, I personally just don't see it as worth the risk.

 15 min positive, from the last divergence I'm guessing it's a 2+ point move.

5 min chart just crossing support and volume rising on that move (head fake) so it's probably close to being ready to reverse.

2 min intraday chart...

If I'm going to put money to work long right now I'd rather it be in XLF or IWM.