I know some of you guys are looking for a short term long to see if we get another rally into mid-week.

USO could be a good candidate.

The chart pattern shows a double daily bottom to manage your risk @ 31.05. If this trade is going to pan out it should maintain higher on the day and week above 31.37.

The RSI’s in the Oil futures were in the single digits this A.M. making some sort of a relief rally likely.

Initially I thought 85 ish in WTI was about all we could expect, however the USO ETF looks to have some potential to turn into a descent swing trade.