USOIL Update

Last week's decline removed several alternatives, including the possibility that the correction was nearly complete, which is ironic. There are no more confusing options with triangles.

However, the fact that the price penetrated the red dashed trendline indicates that wave b is most likely not over. Also, because of the steepness and depth of the decline, I am reintroducing the green scenario with a longer and larger wave a.