In reaction to Wednesday's larger-than-expected build in weekly supply, oil pressed beneath its prior pullback low at $36.66 to $36.40, which is being tested as we speak.
If violated, this could trigger additional weakness into my original, near-term, corrective target zone between $36.00 and $35.50, where I will be interested in entering a long position in United States Oil (N:USO) ahead of my expectation for another recovery up-leg that projects to $41.00.