Monday, June 6, 2016 10:15 PM EDT
![OSX Oil Services Index](https://www.streetwisereports.com/images/Chan6-6-16OilServicesIndex.png)
Oil stocks as represented by OSX remains on a major sell signal, which is now two years old.
![Oil Price](http://www.streetwisereports.com/images/Chan6-6-16-Oil.png)
Crude oil remains on a short-term buy signal, but is due for a correction.
![COT Crude Oil](http://www.streetwisereports.com/images/Chan6-6-16-COT.png)
COT data indicates that speculation remains at levels of previous tops.
Summary
Oil and energy stocks have been correcting but oil prices remain firm, thus resulting in a divergence that has been in place for a few weeks now. According to current COT data, crude oil is due for a correction; caution is advised.
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All charts courtesy of Jack Chan.
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