A two year bottoming process seems to be coming to an end for crude. There was an attempted breakout on January 3rd, although, it was rejected. I am anticipating a retest of that price level.
The USO trading price has been rejected (on large volume) for a second time now at the 2.618 Fib extension- with the first rejection occurring in June of 2016. Next area of support is around $10.90.