Monday, March 28, 2011

Time To Get Short WTI Crude Oil?

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Itz is suggesting shorting WTI crude oil here, via Proshares Ultra Short DJ-AIG Crude Oil (SCO) ETF, look to get in around $43. Chart  The daily chart indicates a Bullish Divergence pattern with $41.50 as a bottom.
Itz also suggests taking a partial position, watching over the next few days on how geoplitical events play out. As mentioned in previous blog posts, the energy market has been trading on headlines and been very volatile... so keep stops tight.

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