Pro Long (Chart): - RSI and Stochastik created buy signal - Orange support line
Pro Long (Physical): - ICE warehouse stocks new lows - spreads tightening ever so slightly
Contra (Chart): - still in middle to upper end of trend channel - room to go in terms of lower Bollinger band - long term trend still down - risk/reward for long position not there
IMHO I start looking into selling put spreads out in August or September. For example the U16 110/100 p spread. Due to the negative put skew, 1x2s also work great IMHO (selling the one buying the 2s are also an interesting idea).