USO Update

Since the last update, USO has made a small breakout move...

 USO intraday breakout move (1 min chart)

 Here's some of the strength on the 5 min chart I mentioned.

Interestingly, the 15 min chart has shown some very recent changes toward a leading positive divergence. Short term traders may want to look at a position long here with a tight stop. I would imagine if this were to be a bigger move then just an oversold bounce, USO would fall back into a lateral trading range. If it does not and continues higher from here, I would keep the stop rather tight on intraday trade.