USO

Here was the other possibility we discussed with regard to USO's direction, that is why the trade was characterized as a "probing" trade.

Doesn't make a lot of sense with middle east conflict, but the charts are the charts and price action is the ultimate judge. Luckily USO was in a good R:R set-up position and not extended.

 5 min negative divergence right off the opening gap-in other words-distribution right off the open into the highs.

The 1 min is confirming with a slight chance of an intraday bounce developing.