USO Target

3C got this one right on the head, from the long trade to the reversal and this being a commodity in flux with world events. Now, where is it going? I'm still bullish on oil in the long run, but I do think we do have more downside, it may not, actually it certainly will not be a straight line march down, we'll have bounces, but this is where I think it is going and 3C will let us know as we approach the area.

The white trendline is my target, of course world events could reshape that, but USO seems pretty well locked into its cycle. I'd say there's a 75% chance it his within a few percentage points of the target probably later next week.