Yes that is correct. And if it was easy to keep this chart handy (which it isn't) one could just watch for a cross over by the nearby months above the further out months to 'suggest' a more bullish trend developing and possibly even lead to backwardation, which is very bullish. But that presently is a stretch. But not paying a lot of attention to 'so called' fundamentals I'll just watch the chart for this. It will let us know long before anything else will. Putting this chart together now and again will be what's a p.i.t.a unfortunately. And bottom picking can really get you into a lot of crap,lol.