A Little Pop for Summer?
WTI has admirably traced out a post Memorial Day swan dive, which used to be more of a feature in the bad ol days than it is now. In any case, it has come off sharply enough to begin looking oversold on a medium term basis. 1 Month click to enlarge Note the RSI positive divergence. Together with the Rbob reaching a 50% pullback, risk is to the upside for the next week or so. 6 Month click to enlarge BTW the Rbob 1 month / hourly bar chart also has positive divergence on the RSI.