USO Reversing from support level

• USO Hits and reverses from the support level.
• Next big fall will happen only when price breaks below 30.23 level.
• If the current up move continues price will try to fill the GAP above 31.83.

USO - Target for the breakdown

• USO Moving down towards 30.31
• Breaking below 30.31 will add momentum for bears.
• GOLD BREAKS 50 SMA
  

US Oil Breakdown

• USO has given a breakdown.
• Price closed below the trend line, If it sustains at these levels and move below 32.89 we may see good correction in USO.
• GOLD FALLING WEDGE
  

US Oil Getting closer to the resistance line

• USO Daily chart is getting closer to the resistance line in daily time frame.
• Big correction awaits USO once price his the resistance line

US Oil Moving Towards resistance line

• USO is approaching its resistance line in daily chart.
• Breakdown similar to the last one can take uso to 30.31 levels initially and if 30.31 is taken out it could lead to a bigger correction. 

USO rising towards the breakdown level

CHART-II UPDATED

• USO having given a short trade is retracing towards the breakdown level.
• This up move may find resistance near 35.16 and starts to fall again.
• Bearish structure will change once price starts to trade above 36 Levels.

CHART-I

Head and Shoulders of United States Oil

CHART-II

• When i did this post i never believed this HNS would do this well for bears. And many readers said the same thing. And it ended up a perfect HNS pattern.

CHART-I

• USO Daily chart is showing a head and shoulders pattern.
• Knowing the reliability of Head and shoulders these day's one should be careful before shorting.
• 34.75 - 35.15 are may give support. Price closing below this level will give good gains for bears.