USO Gap Fill Likely

Looking at USO as it approaches resistance that marks the start of the next leg up and the previous leg's consolidation highs, it looks like it wants to fill today's gap or at least some portion of it.

 USO Daily Chart...

The 1 min intraday looks like a pullback/gap fill.

Beyond that, there's not much and USO still looks good for a move to a new leg higher soon.

This is the 2 hour chart, this divergence didn't develop in a few days and they don't reach this far without having some real strength, although this is still not what I'd consider a bottom, but counter trend rallies tend to be stronger than stage 2 mark-up bull market rallies so just the same, it still should be a decent position as long as it lasts.