Crude Oil Futures Bottoming? $USO

On a weekly basis oil seems to be closer to a bottom. As a reference notice the oversold indicators at the last breakdown in late 2008 and at that time the US is on the brink of a collapse of its economy. There seems little evidence to support a parallel in economic conditions at this moment so this could prove to be an inflection point. No guarantees till it actually occurs so take it for what its worth. Im sure those individuals at the last trend line test were in a similar position and someone stepped up and did very well years later. IMHO not a bad area to take a shot with some options out 6 months.

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