Usoil - C waves, Jim Cramer, and the the Big short
Updated
Usoil may have peaked for at least a few months. Any higher than 124 and I'm wrong, but very few people are thinking we are about to embark on a C wave down. If this is true Oil will start to underperform the SPX.
Comment
so far so good, the idea is negated above 123 Comment
USOIL/SPY chart, weekly candle will be important, so far looks good for bears. Comment
Doubletop, reaction from here will be very important. Stops at 124.50 Comment
So far 123 is holding, needs to get impulsive so more sellers start to step in on bounces. we'll see. Comment
looking good for bears Comment
needs to break channel and get down to lower bb, then it would be more clear that the direction is changed. 
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