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In your video reviewing the UWR and AP positions you said you would consider exiting USO around $12. If it breaks through the $12 resistance it would not have more significant resistance until the $22 area. Since it is early in wave 3 now, I assume you would recommend holding USO for now expecting it to climb quite a bit more than the $5 jump of wave one. Is that correct? Thanks a lot.

If its truly in wave 3 as I believe it is, then it will have no problem overcoming $12 per share. And by the time its made it through wave 5, it could make it up to its $29 resistance on its weekly chart.