Well this will be one to watch and quite frankly if correct one for the record books. I just looked at the daily and weekly chart for USO and it is ugly. Nothing on the charts says buy. However, unless oil goes up we will see mass defaults in US shale fields which translates to banks getting hammered. Banks are not permitted to loss money. Any bets on what the event will be? My 2 cents is Iran and Saudi implode on each other.