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Glaring Divergence Emerges Between ES and WTI

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    For the past two weeks, the heretofore, inseparable tracts of ES and Oil have seriously diverged. Since Apr 22, ES (Emini S&P 500) is up about 1%, while Oil has declined about 14%. ES remains in a well-defined uptrend, while Oil has carved out a meaningful, near-term downtrend after its Feb-Mar advance from $26 to $42. Of course, from a much longer-term perspective, ES is in a multi-year bull trend, that is recovering from a 14% Jan-Feb correction, while Oil remains in the grasp of a

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