Again for me there is some debate about the pivot to use for P0 in the ML set and i am only able to plot reaction lines in MetaTrader. The bottom line here is that either will do but only the more recent SH gives a half decent reaction line. We are on the LMLP in both the June and cont. chart and price certainly looks oversold from the indicators. Overall i remain very bearish as per my last weeks-worth of posts on this blog but if price holds on this LMLP then i would expect to see short term rally/profit taking perhaps upto the centre line around $84.00 on the June contract.
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