[USO] has likely bottomed or will do so Monday AM and then reverse upward

At the backlink I provided the chart below which recognized both a red (primary) and blue (alternate) path.  Again, I was hoping that we would see a double bottom here but assuming that even if this turned out to be wrong that we'd bottom probably today in the $9.60 range.




Today's chart update below  appears to have followed the blue model above so far.  The model suggested a bottom of $9.60 and the actual bottom was $9.70.  Monday would be a great time to gap back upward and begin a serious rally.   Alternatively, the chart could in fact only have finished 1 of 5 and now plans to extend the 5th wave.   We know that commodities are prone to do this.  I took profits on some short term gains for several of my commodity trades which have had big gains of late like UGAZ but am still holding a few like the RUSL I bought yesterday.  I also bought into a new position on ORIG since it was down today and it looks like it might have formed a double bottom.  I have very tight stops on that one.