That one is interesting to watch. If they roll over to 100% June futures without any movement, then the earliest I would expect to see an oil bounce is July. I am trying to gauge an oil bounce by following that one. I don't want to buy OXY contracts in April if an energy bounce isn't coming until July. I wouldn't normally judge a sector based on a single ETF, but the volume since January tells me that the market is putting some weight behind it. There are several energy ETFs that have seen huge surges in volume as well. Its an experiment for me, since I have never tried to use this as a method for finding a bottom in a sector before. Hoping for the best. LOL, IMO and FWIW.
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