USO moving in to trouble

USO has shown a pretty long stretch of distribution, despite all of the geo-political developments that would suggest otherwise. It is now moving to an area in which it could see a very serious move.

 USO breaking important support today

 Intraday, it put up a small fight at support, but not much.

 This is indicator shows the weekly close within the range (think where a candlestick chart closes within the high/low range.

 Daily 3C

 Hourly 3C

New leading 15 min low.

Basically there's been heavy distribution over the last couple of months, I would assume there's been a lot of shorting as well.