4Hr - Has it  Holding at the B/Out line

Dailly - Taking its 50/DMA

Daily Line - Moving up after B/Testing 1st res line Yet still in the immediate down-trend channel

Daily Line USO - Out of the Bull 'Wedge' & attempting to push up thru lat res line

Hrly USO - S hows it inching above lat res

Daily USO - S hows the basing pattern Obj

Hrly Line USO - S hows the Bull 'Flag' Obj

Daily Line 2 - Shows the 'Arc' & inflection point at the ctr where the Green/MA resides

Daily Line XLE - Shows the energy stocks picking up a head of steam...

Micro-Chart has an Inv 'H&S' Plot

Hrly - Shows  the down-trend channel res line to overcome

Daily LIne - Shows the 20/DMA tarries with the 'Coil' res line (tough res unless a 'gap' above it/?)

Daily Candle - Shows the 20/DMA tarries with a res line But giving hope is the fallout of lwr line & 'Gap' tag

Daily Bar - Here I have the competed Bull 'Wedge' within the down-trend channel that offers hope

Wkly - S hows why it was important to hold the line above the $15 level

Wkly 2 - Shows my Bull 'Wedge' where the final tag came in on cue

Wkly 3 - My Bear 'Flag' which did warn of a down-thrust didn't tag the Obj but may be close enough/?.

Has a Bullish Engulfing on the Wkly from its Lwr-BB

Wkly Line - Shows the 'H&S' Plot...

Yet to crack 6000

High Grade B/Tested its 'Coil' B/Out Line yet has to overcome 2.70 Level

Wkly - Shows Bull 'Flag' in Play

Daily - Shows immediate res level

Wkly Line - Has pot'l for one more pull-back in the 'Pennant'......

Nicely put Matt.

I also like to see large speculators decreasing their longs as the Commercials decrease their shorts, ie as the bars narrow to the median line as is occuring...

Getting near to its pattern Obj where a bounce could ensue But does have a lure at a lwr level...

That explains it Matt... Feel a right donut now  

I notice the Large Specs (Who are usually wrong) were going the opposite way too the same with Silver

As for clarification Matt, how do you compute the COT data to arrive at 75K Net Short as the details below suggest to me the Commercials were Long 131,190 & short 238,416 thereby giving a Net Short of 107K/?...

Homing in but would like to see a 4th Wave...

Stretched on RSI's But no divergence on McD...

ETF Popping its res line

Daily - Remaining above its 20/DMA after the Break & B/Test.

Daily 2 - 10/DMA is spprt

$XLE - Followed thru from the 'Hammer' & recovered 10/20 DMA's...

Popped its Down-Trend channel now needs to follow thru the 1228 res level

Hrly - Yet to crack the lwr time-frame channel Yet has Bullish set-ups perhaps/?

Daily - Bounced form the confluence of lines which was ideal Now has to take its 20/DMA...

Bull 'Wedge' Playing out to fruition Heading to upper line of 'ED' (red) maybe/?...

Yes - And on the Micro Line Chart it has popped its channel Steve...

B/Test of the B/Out Line stemmed the decline

Has to recover its 20/DMA & Re-enter the 'Coil'...

Pushing on up

Has yet to crack the res line but is trying...

Has to pop the immediate channel to show willing

15Min - Decision Day I guess...Either Put-Up or Shut-Up

Hrly - Trying to pop from the Neckline B/Test...

Still in the immediate Down-trend channel

Hrly - Shows the pot'l for a Bullish Basing Pattern off the lwr line

Daily - Recall the confluence level where a bounce would be ideal...

Struggling at its 20/DMA after exiting the Bull 'Wedge' Can't rule out the potential for the (red) pattern to play out yet

Daily Line - Shows it c ould revisit the lows if its 20/DMA is not taken...