USO

 UUP (Dollar) daily chart. Considering the drop in the dollar today, pretty much every commodity I've looked at including the commodity index, seems to be severely underperforming.

 Here's USO daily only up .30% on a nearly -.80% decline in the dollar index, a total lack of relative performance.

 There are two possible price patterns in USO, the descending triangle which has a bearish slant, I question this one though as there was no volume on the upside breakout on this hourly chart.

 The second would be a more bullish Inverse H&S base price pattern in which there has been no breakout. A breakout of either pattern should produce volume, so it may be this is the correct price pattern to look at. I will point out however, my volume analysis of this pattern is not confirming an Inverse H&S, the volume is wrong.

 Here's the hourly 3C chart which appears to be bullish and suggests an upside breakout.

 The 5 min chart has shown negative divergences, especially at the breakout point on Wednesday. There's also a current negative divergence on the test of the morning highs today.

Finally the volatility is tightening which would imply a highly directional move is coming shortly. I would not jump to judgement on a break below this trend line as we often see head fakes before a real move (up) starts, but if it fails below this trendline and can't get back above it within a reasonable period of time or f prices drop like a water fall, then I'd be wary.

For now, It's a wait and see game. I wouldn't rush into any large positions as there are just too many contradicting factors. We want high probability, not best guesses.