UCO, USO updates 12/21

UCO: not much to add to the recent update from two weeks ago (see here) other than that price is in the ideal target (and support) zone, while the Elliott Wave count suggests the impulse move is about complete, and the technical indicators are now clearly positively diverging as they usually do during the final 5th wave of a move, to set up the counter trend move. If the Bulls want to make a stance, than it is at these levels and with these chart setups. The USO chart shows where I expect the bounce to go.

Impulse wave about complete into ideal target and support zone, while the technical indicators are positively diverging.

USO: Same count and setup as UCO of course.

If correct, price should target $12-$13 for the anticipated bounce, but could stall at mid-11s.