USO

USO, thus far is in better condition the I would expect. I mentioned last night this may be a snap back trade in which the dollar (this rarely happens) doesn't mater due to the oversold nature of USO.

 USO 1 min showing a negative divergence on the 1 min chart last night, we got the gap down and a positive divergence early on this morning. Right now we even have a leading positive divergence.

 The 5 min chart has showed the more important accumulation going on as USO headed lower, this is the underlying strength of a security that I mention. Right now, we have a confirmed price trend.

The hourly chart which has been the most important in the bounce analysis has shown a 3 day positive divergence. I think considering everything, USO looks surprisingly good.