Energy futures markets fell from compressions in early March (circled in these charts) dropped into a low point marked by an extension (the pink arrow - see the March 15th edition) and have now rallied back up to those old compressions:
Compressions act in several ways and are the market equivalent of those 'attractors' that occur in systems that are driven by feedback, as identified by the scientific study of complexity. One consequence is that a price area that has developed a compression will alternately repel, attract and then repel the market again. In this case, a down-move developed from the compression - this ended with the extension marked with the pink arrow above - and now the market has rallied all the way back up to the compressed area. This will now act as resistance, so you should sell all longs and reverse into short positions.
All signals generated by software supplied by our friends at Parallax Financial Research www.pfr.com