WTI will be trading around $24 on tuesday because of May contract rollover to June. So oil will jump, yes, but USO will not reflect it, because it's already tracking June contracts. Next the market will decide what to do with that 30% contango and oil which was worth $17 on monday became $24 on tuesday. I think it will go down from $24, to around $20 and we'll see your original predicted bottom around April 29. Can you post an updated video for oil entry now? Thank you.
@Leslie1989, I mean that current oil price you see it's a May futures contract, which will be closed on tuesday, april 21, after that we will be trading July contract with much higher price. Watch this video: