A very good write up on this subject may be read @ "State of the Market" blog. And when that reversal takes place, equities across the globe will head lower. Until then, trade light.
What I see:
A. Two positive divergences to be confirmed by a price reversal by a close above 75.25
B. There is a potential double bottom.
C. There is a "Morning star" formation, to be confirmed by a white candle close above 75.65.
D. A channel break out possibility above 75.80.
E. If the reversal does not happen on Monday or latest by Tuesday, there is a threat of breaking the lows.