Oil has rallied over the last two weeks substantially. In fact, after falling from $52 to $39.20, it has retraced exactly 50% back to $46.40. This is a key Fibonacci retrace resistance level. In addition, oil has also slammed into the tracking ETF $USO 50 and 200 daily moving averages. This is a multi factor short on oil level. The pull back should begin tomorrow. Get on board and enjoy the ride. I am buying SCO here, a 2x short oil ETF.