Friday, September 25, 2015

Another view of [USLV]

Backlink was not bullish. Not bearish especially but the count is really tricky at the big turns and I see ORIG having the potential for one more swoon. I suspect that commodities will all turn fairly close together.

I don't have a strong conviction about this count but the three most likely outcomes are shown below.  A gap above resistance as shown by the green path is a signal to buy the dip.  The red path would be very nice because it would fill that gap before exploding upward.

Have patience and buy the dip, never the peak.
Always use stops.



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