Looking at the charts for USOIL , all I can see is a Harmonic patter forming. The Bullish , Bat pattern will typically retrace to 88.6% of the previous XA run up. This would put USOIL at $37 a barrel. I won't short this, but if it gets to $37 I will go long in energy.
Harmonic Pattern Bullish BAT
With the move higher with volume I think its time to buy OIL.