USO Pullback proceeding as envisioned and then some

Here we have confirmation of the pullback and the rumor mill has caused that leading divergence in red plus most likely the drop below our second daily support zone although this is bounce to happen before any upside event takes place as a short squeeze will propel or kick start a bounce. I can't say we are there yet as there's no evidence of that. I want to congratulate at least two options traders that played this perfectly. One note, watch for any signs of Gadhafi making an appearance showing he is alive, that could send oil right back up very quickly.