USOIL facing rejection at the 50% Fib.

After Falling from $34.70 to $30.70 ; USOIL bounces back to $33 but now we can now see price rejection from the highlighted area which is considered as a previous resistance that has been tested multiple times in addition to the 50% Fib. projected from $34.70 to $30.70 and finally the 50 Exponential moving average.
This is an important level to watch for a potential short position.