The problem for oil is getting past the trading range up around $51 resistance. It would seem reasonable to conclude there is a floor for oil at $35; given oil is nevery going to $0 and $10 or $20 is so nineties. Gold bugs love their Gold but Black Gold may be a better bet.
Disclosure: Own some USO (but should have gone with USL...)
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website