The first is what looks, to me, like an inverted Head & Shoulders pattern in the daily chart of USO.
The neckline was broken at the start of May and a measured move could give a price projection in the $44-range (which coincides with the 200-MA area and a resistance level).The second chart was (as revealed in the comments section) a 60-min chart of SRS, which appears to be giving us a Rounding Bottom pattern.
As our beloved rally has relentlessly climbed, SRS seems to have frustrated holders into giving up on catching this falling knife. We can see that price seems to have stabilized after losing over 70% of it's value since March.It looks like a base has been built and may be breaking out of it's established range.
Looks like a double-bottom recently. While the most recent test of the lows was on lower momentum, leading to a "Slingshot" setup.
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