Wednesday, September 15, 2010

Crude Oil Update

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On Sept. 12 it was noted that crude oil was setting up an ascending triangle.

 Crude has tested the completion and now retracing testing $75 level.

On a hourly chart crude is now possibly setting up a 'bear flag', Itz continues to see lower prices ahead for crude oil. Here's a link to a report from on the fundamentals of crude oil. >>LINK
Itz favors using Proshares ETF's such as SCO and/or UCO to trade, see more up-to-date commentary at Twitter

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