Heating Oil presenting a good technical opportunity?

The Dec13/Mar14 heating oil spread looks to be bouncing around a solid technical level that might be offering us a good opportunity.

Distributors generally buy up their inventories in late summer and by autumn they have all they need leading to a slide in prices.

Meanwhile the oil complex has been pushing higher over the last few months but has been in a trading range recently, seemingly on the back of supply disruptions/fears and ever increasingly supply from new technologies, while recent demand has been strong based on EIA inventory numbers.

We're still a month off the seasonal window so for now I'm just keeping an eye on this one ahead of Wednesday's EIA data.