[UGAZ] update

In the backlink I was looking for a bottom in UGZ in the low 6, high 5 range.  But if fell all the way to $5.50 and so I have to change my count because if I leave it alone then what I had labeled as 3 would be the shortest wave and that cannot happen in EW. Additionally, the bounce has been corrective in nature.  This is likely going to break down again.  The question is whether other commodities will fare the same.

In any case, this is a leveraged triple not a buy and hold and so I would not own it until it gives me the slow fat pitch over the center.  Once such pitch could occur with blue 3 of 5, these have a habit of throwing under the lower rail hard and then doing a false breakout and then one more lower low as shown.  But should we get blue 3 even as tame a dip as shown below, that move back up to blue 4 should be entirely trade-able for a nice and easy 20% gain.