[UGAZ] update

At the backlink we had the model below.  The model expected that after 3 waves of pullback that it would reverse higher.



It didn't and so I got stopped out on the AM gap lower.  Toward the end of the session I got back in with the new primary count in red.  In summary, the retracement could be an expanded flat as shown.  Under the scenario the ticker should move north pretty much from the opening bell.

This count not only found support at the more realistic 61.8 fib but also "coincidentally" filled a gap in black 1 as well.

While the herd can certainly turn this into a deep vee 2nd I saw ORIG and USO trying to form a base today.  When energy moves up it will likely move up as a herd.