USOIL makes what looks like a classic Elliot Flat Correction. But where does it go from here? Is the correction a pause in upward prices? Or is the correction the change in direction from uptrend to downtrend?
Note that the bottom yellow dotted line is the 200day MA area. Haven't even bounced off that yet.
Note that the bottom yellow dotted line is the 200day MA area. Haven't even bounced off that yet.