USO Follow Up

Here are yesterday's and this morning's comments on USO

Yesterday's warning of a negative divergence forming


Another False Breakout from yesterday   "USO could tumble pretty hard in a short period of time."

 This morning

This is a parabolic price move. Look at the sell side volume on the way down.

Yesterday I was able to identify the negative divergence using 5 min charts, this is a 60 min chart and the red arrows show negative divergences/distribution with a failure at each. Note the very negative divergence as USO tried to hold above $39 on a false breakout. Once again, false move, reverse fast and hard, thus the parabolic nature of the price move.