Given negative divergence on technical indicators, I took a short positions on USO
and /CL earlier this week near the high. USO
*may* have stopped below the 1.00 extension (12.64) of green minor waves i-ii. This would support the green iv-v of 5 of (C) <7.02. A corrective decline, however, would suggest the white bullish
count could continue. This negative divergence isn't characteristic of a 3rd wave, so I'm cautiously short.