More on Crude Oil and USO

I wrote that I thought crude oil might bottom, 2 weeks ago, when the Feb 09 crude oil futures ( ticker symbol CLG9 for the futures. Commodities are traded as Futures and there are futures just like there are options for different months) were trading around $42 or so. From there they went down quite a lot , continuing the downtrend,now it is bouncing back a bit at $40 or so.
I have used USO as a way to trade oil. I am posting the chart below, but the downtrend is intact. The only way the downtrend ends is when USO takes out its previous low at around $33 or so.
OK before that since Crude Oil trades in futures and USO like a stock, the price moves together but the price is not the same. Now crude Oil is at $40 and USO is at $ 31 or so.
In Technical analysis this downtrend is called as lower lows and lower highs.
That means the chart looks like a falling wave. with each new peak of the wave being lower than the previous low of the previous low.
So the down trend will be broken when USO closes strongly over $ 33 or so. Also remember just closing for a day does not count , it has to keep going up or at least sideways after that. Also usually lows are not a single point or bottoms are not "V" bottoms , a bottom is usually tested in weeks or months.
As of now check out this chart.
Here is a 10 min chart of USO.
Here is a daily chart of USO.
The only thing that's USO has going for it is the MACD . This bounce has to take it well above 33 on strong volume , anything less wold be just a bounce.