Thursday, June 9, 2011
Edit: To note, you can see my charting application has actually switched front months to the Sep contract, but the Jun contract is also quite low in volume and is already at the 1290 level, with highs at 129300.
spotted in a previous post, its close and this will provide an ultimate "I'm wrong" line in the sand. Lastly we are showing some continuation divergence in the MACD (shown in light blue) as the oscillator pulls back farther than its previous peak with the price not making a new high. I think this is a good opportunity to try to pick up a few dollars on oil.