Chart: USO

USO (United States Oil Fund) may be in the midst of printing a bottom here. The stock has been in free fall since the late August double top breakdown. However, this past week the stock pushed past 50 day moving average with an extremely strong RSI reading. A bullish flag formation is forming, although the volume on the downside is a concern. While entry here seems safe, the better bet would be to wait for a breakout over $55.