ROYL Update/Chart Request

First of all, XLE (Energy) is looking pretty darn good on its own. Lets take a look at ROYL.

 The last time there was a daly divergence in ROYL, it ran nearly 300% in several days, we are again forming a daly positive divergence in ROYL.

 The 30 min chart has been accurate in calling the swings and is now leading positive.

 The 15 min chart, which often is a good timing indicator is also in a leading positive divergence.

 As is the 10 min chart.

As to what I was talking about this morning with regard to the market and double bottoms, Technical Analysis believes the second bottom or the test should fall short of the lows of the first bottom, but it has been my experience that there' almost always a head fake lower as we see here in ROYL and that is often a good timing indication. I would not be opposed to a well managed trade going long ROYL right here with a stop just below today's low on a closing basis.