This evening's posted notices saw just 80 notices go out, with Term (Allenberg) the 100% stopper and Dunavant/Golman Sachs the issuers. This was a large surprise as most trade participants expected the reverse…...
The May contract has increased it's volatility of late, with today being a prime example as it traded all over the place. There is little bullish momentum following on from the March squeeze and there seems to be plenty of attraction to the contract lows around 51.50, so we speculate just how long these levels will hold.
Trending indicators indicate slightly oversold levels at present hence the consolidation (the 9/50 moving averages are completely stretched out) though are overall negative. Momentum wise the RSI is just 37.72, though well off last week's oversold levels at 30.00.
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