Chevron chart (CVX)

The XOM count looks like it is in a 3rd wave and so does DUG but the CVX count suggests that it is just a dramatic 5th playing out.  Oil will move pretty much in unison so I always like to take several reading across the spectrum.  So it remains to be seen if XOM bottoms far earlier than one would expect for a 3rd wave down and then heads back up to Thursday's pre-selloff levels.