Watch for a countertrend swing
The ETF dropped when it reached the right altitude
The last high was probably an overshoot
It should cut into the year-long advance
I was working on the ETF that tracks crude oil, (USO), and have decided to promote what I had as an alternate count in crude to the primary, that there is one more high needed to complete a five wave sequence up from the low from last year.
Since I have started to think that the low in crude is in, I thought I would update the charts for likely the most popular ETF for crude, USO. The monthly chart has a fork placed in a similar way to...