[USO] will out itself soon

My primary count at present is that oil has put in a significant bottom which could turn out to be the bottom (although a c wave in WTI crude should see a lower low to about 20-$35 if C is going below A - look at the wtic chart at some other web site if you want clarity on what I mean by that).  In the backlink I issued a short term BOLO caution which is still not resolved to the upside or to the downside so here is what to watch for on Tuesday.

As you can see, the chart is up against a resistance line.  I expect it to take the blue path and gap up in a 3rd of 3rd as shown.  That would be a major buy signal.  However, failing that, you still must BOLO the pink model and if it falls to a lower low than $17.10 then look for something sub $14 as the real 5th of 5 unfolds.

A fall below $17.90 is a clear sell signal because the wave would have moved into the area of the supposed 1 of 3 and that is not allowed by EW which means the primary count is wrong.

If this does break to a higher high it could still be a C wave.  So after buying the breakout, stops should be set just below the peak of green 1.