I've Identified the Rare "Head and Sheikh" Setup in Oil

If the U.S. Dollar can finally come in for more than a few minutes this week, I would expect crude oil to then finally be capable of staging some type of relief rally for longer than the time it takes to fill up a tank of cheap gas. On the 30-minute chart for the USO, ETF for crude oil, we have our inverse head and shoulders, or Sheikh, setup. A move over $17.35 projects a rough target of $18--Nothing too dramatic but perhaps enough to keep shorts honest. As you know, I have not been bullish on crude in quite some time, instead looking for a sloppy sideways range in all likelihood for the foreseeable future. Thus, playing the range may be viable for fast, disciplined traders.