[ARP] update

In the backlink I was expecting ARP to move up and it did but I did not like the look of the chart and so I bailed with a nice short term profit.  I suspect that it might have one more physically small but percentage wise worthwhile move up.  Maybe I'll turn out to be wrong about this but since the Jan bottom I count 3-3.  If we get another wave up as shown in red, that could count as a flat correction (3-3-5) and it will mean that there is one move wave down to a likely lower low.  By the way, the black 5 below is meant to show the 3-3-5 nature, it is not part of any count.  If the flat correction pans out, it will be red 4.

The C wave of a flat correction should go at least 80% as high as the A wave.  This is why I suspect that the downsloping blue line could turn out to be resistance.  If the chart can bust out of that then I will start wondering if I got this wrong.

Odds, not certainties...
In any case, I expect tomorrow to be a good day for oil services.  Putt the short game for dough.