Just a mid-day observation...
Price hit the upper keltner band yesterday, which is bullish.
However, NYMO is negative today.
NYMO has been bobbling around the zero line for several days now but we have a bit of a lower high lower low pattern at the moment over the last four days.
So, we have a negative NYMO divergence unfolding.
We have three down gaps that have opened up in this NYMO context while outstanding up gaps have been closed.
Bottom line is a weak close would suggest some caution for bulls.
Negative divergence is a tell but not really actionable though until confirmed by price.
I am flat.