The 15 min chart is showing a larger cumulative positive divergence today, but if you look close, there' a slight negative. I'm just not convinced this is it for a shakeout, however, this is trees in the forest type observations.
Monday, May 23, 2011
USO Update
I'm not really trusting this is it for a shakeout....
The 1 min chart doesn't seem to want to follow price here, which I suspected it wouldn't as the positive divergence this a.m. was fairly small.
The 5 min chart is not negative, nor is it positive, but it is in confirmation.
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