Oil: short-term bouncing back is expected

I have predicted and repeated a few times in the past few months that oil would likely plunge from its high of over $100. Sure enough, in just a short few weeks, it has plummeted like a rocket stone with 20% chopped off. Yesterday, it further dropped below $80, a significant support level. Has it done its froth-removing work? I don't think so. I think there is a good chance that it will further decline to low $70s before its correction is done. But does that mean this is a straight way down? Actually I'm betting now that oil will likely quite significantly bounce back in the very near term before resuming its downturn. Below is the USO (oil ETF) chart. As you can see, it has dropped almost 20% below its 200 day moving average (red line). I'm not sure if you have heard a phenomenon so-called "reverse to mean". It means naturally when something is too far away from its average (mean), it tends to come back to the mean before moving away again. A 20% gap below (or up) from its 200 day moving average is quite significant and almost always it will move towards the average as the next action. So I'm willing to bet against the herd for a quick & sharp bouncing up for the oil price.One leverage way to do so is to buy the call options of an ultra oil ETF, UCO (2 x leverage). Using a call spread, the risk/award ratio could be as high as 1:4.