Possible incoming rebound.

I think USOIL was previously in a corrective ABC wave, but this time it tested a lower low. In my opinion, if you are an aggressive trader, you can consider buying now because C wave is probably finished already (-20% like the A wave). But if you want to be safe, you shouldn’t buy oil yet until 17.55. A SL will be at $16. Target price will be 23.32.