USOIL- USOIL had a slow problematic trading week with low volume causing consolidation which was followed by quick spikes. This will be USOIL way of movement for awhile as at these levels it's vastly untested. Notice the blue box, USOIL is sat nicely in this region and it's floating around the resisting trend and mid trend. USOIL needs a move lower and 114.63 should provide a good support level as it MUST stay above this region to go higher. Should we break below that region then all the possibilities below open up to us as we have strayed very far away from the support trendline with some regions left untested. I am looking for shorts to start the week off and the longs once the support floor is confirmed. I will be looking for a swing from 114.60 or 104.60.
