prices (as measured here by the ETF
) have been on quite a bullish
tear through the first half of Q3'13. Longer term models suggest substantially higher prices could very well be in the works. However, the most recent move higher came on a very poor momentum reading. Indeed, the enter move higher over the past week further confirmed a bearish
momentum divergence. While I do want to be long energy, I am going to cool my bullish
enthusiasm until momentum can clean itself up a bit.