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is Oil about to breakdown?

CFDs on WTI Crude Oil (TVC:USOIL)  
Trading-Capital  
TVC:USOIL   CFDs on WTI Crude Oil
Chart Patterns Oil WTI USO Energy Commodities XLE XOM gaas inflation
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chartpattern oil wti uso energy xle xom gaas inflation
Oil has hit some near term support at the weekly 200 MA but don't be fooled by this level. Its no longer a major support level.

If tomorrows weekly close closes outside of the white wedge pattern this chart looks extremely vulnerable to more downside.
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