Crude Oil is Oversold in the short-term

I believe that Crude Oil is oversold in the short-term.  If you look at the United States Oil Fund ETF with trading symbol of USO, it is down about 10 percent from its January 6, 2010 high of $40.97 to today's close of $37.25.  I believe it could go up to just around $40 in the short term.

Disclaimer: I either own and/or control long positions in USO.