USOIL is below the 50 and 20 mva on the 4h chart which are about to cross. It's dipped below, and is coming back up to touch the MVAs from below. It's finding resistance there, which is to be expected, and indicates it's trending down now on the 4h chart.
The chart pattern of the expanding descending wedge indicates a high probability of a reversal in price. In this instance we are looking at a long term bull market in oil going up very possibly to as high as 166. What world events could possibly cause this? There are too many to contemplate.