The current snapshot below says the model was correct. Ignore the rising purple line, it was a touch pad glitch and windows snipping tool does not have and undo option. The model anticipated a bottom in the $14.10-$14.25 range. Actual was $14.16. Because the model was followed it increases the odds that the model will continue to be correct. But we are now up against a 3rd wave and in fact 3rd of 3rd should be on deck according to the model. If this is true, we should get a rapid move up over the resistance line tomorrow and it would not surprise me at all to see it gap up.
Zooming out a bit, we either have a declining double top that will fall below blue 2 to form the real blue 2 or this must break out the top rail pretty shortly. If we see this gap up above the red rail, buy the gap (or the first dip after it) because that is the sign that wave 3 is upon us. But if this fools around at this level for very long then the odds shift rapidly in favor of a lower low below blue 2 but probably not a new all time low.
Of course if you are going to gamble, go big. Don't waste your time on USO. Look at any of the commodity plays. They will all trade in similar fashion. This is why I chose volatile plays like CLF and ORIG for my own portfolio. It's very likely time to buy and hold these as if they were nonexpiring calls on commodities. GDXJ is another one that will go up big time when the foul wind of inflation begins to blow again.
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