FX:USOIL   Crude Oil (WTI)
101 2 2
Crude (and USO ) are really pushing the limits on corrective interpretations of their rallies this morning. Over March highs and the immediate bearish pattern is completely invalidated. Already much less probable than previously thought. I'm close to stopping out of shorts entered Friday.

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Yesterday I was waiting for a reaction from the 138.2% extension of presumed wave c of (ii) - looking down. Price reached it in AH, so let's see if the 5-wave pattern in wave c of (ii) produces a downward reaction. Price moving strongly over suggests more pain for shorts, but the pattern technically isn't invalidated.
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Note negative divergence on MACD and signs of a c-wave on Stoch RSI. We'll see...
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