USOIL Update 🛎️

I do not like those sharp bounces but they are part of the game. When markets move like this it is very easy to slip into seeing what you want to see in those erratic movements. I train myself to restrain from labelling minute waves until there is some critical mass of information and patterns. I was asked to update the chart. I see the unfolding move as aseries of 1/2/1/2 waves. The shape is good and RSI quickly swings to overbought position.

I feel reasonably comfortable with the bearish case.