USO Point and Figure objectives, and stop level.

Here is the 1/2 pt. Point and Figure chart on USO.  We could take a count showing an objective of $6-7.  At this time we will use a stop of $11.66, but probably will not allow this short position to rally above the most recent high at $11.38.    I feel that this is an intermediate term trade, and will look to lower my stops as soon as possible, and look for a stair step lower to the downside objectives.
If you are looking for the details of the original sell recommendation from this morning, please go to the post right before this one.
USO Point and Figure

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