USOIL showed a strong close last week and is seemingly looking for another positive close during the upcoming week. There are potential limit buy areas highlighted in the chart. The first area of interest being the weekly HLC3 @ 5773, the level from which the price bounced during the late Friday trading hours. Market participants seem to be waiting for a pullback to add on to their short risk exposure. Apparently, bears must first close and swap the bullish gap for bulls to panic and start vacating their holdings. A further push down of the market is likely to take place if bulls fail the gap area. As long as, the gap holds, short risk exposure will be the preferred alternative.
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