This idea will not neglecting the previous idea of the USOIL.
If that is an actually Gartley pattern the first target should be 38.2 Fibo for the points A to D, which is in same time touching the assending trend line, this point will be about $69.8 then we can go back to the up direction.
This is will not distract the previous idea (SHORT USOIL).. this idea can be long for short period but it is risky to wait Cypher pattern to complete. Then sell again.
Just wait till break the down trend line.
If you look to the middle east situations (the war in Syria and Iran nuclear deal) you will think the Oi price could be reach to $100 ... but the technical analysis in our chart showing this pattern has been completed and the price may go down again... this is at the weekly chart thats mean should take some time to reach the target... ($76 kill this pattern)
With WTIC moving higher the OIL sector stocks are finally starting to react. GUSH and ERX both looks promising here. GUSH had a big day up over 10%. ERX I am looking to go long with a move over the 50sma. Tomorrow may be a buy.