WTI Oil Heading Higher

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WTI Crude Oil appears to have found support at $90 a barrel and yesterday EIA report rallied it to nearly $96. ITZ has over the last several months highlighted the correlation between Oil's move, trailing that of Gold's by about 4 to 5 months. Click on chart to expand image Past Itz Posts

Chart Of The Day: S&P500

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$SPX 60 Minute Chart (click image to expand)

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Copper Demand Rising

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Copper prices rose on China's and global demand and improving confidence on global economy and increasing demand in China . Global demand for copper are picking up.

The destocking will not be followed by restocking, a slowdown in copper stocks in LME-monitored warehouse fell 1,350 tonnes today.  Albanian Minerals President and CEO Sahit Muja said "The world is facing a copper supply deficit".  The price of the copper rose 30 percent in 2010. Goldman Sachs estimates a 4.7% growth in global copper demand but only a 2.1% growth in global copper production for 2011. Read more here

A booming growth in China, India, Brazil and other the emerging economies need much more copper.
The global demand for copper increased 8 percent in 2010, outpacing supply.
Brazil and China are heading for a battle of strategic necessity over copper in Africa that will leave the winner walking away with the most expensive acquisition of a diversified minerals company. Read Story

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Euro & S&P500 Update 6-29-11

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On June 21st ITZ noted that the $SPX would retest the 200ma and rally back towards it's 100 day ma >>LINK

Last week ITZ posted a chart of the Euro >>LINK

Ashraf Alaidi CEO of Intermarket Strategy  Dollar Falls, Euro Rallies as Greece Gets Another Bailout

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OIL UP: Proshares UCO Update

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API reported last night Crude-oil inventories declined 2.7 million barrels in the week ended June 24, the American Petroleum Institute said late Tuesday. LINK
EIA just reported LINK U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.4 million barrels from the previous week.

ITZ suggested entering Proshares Ultra Crude Oil (UCO) @ $42.50 & $38.00. ITZ suggests setting the STOP @ $40.50.
UCO Chart  Link To Past ITZ Posts Click Here Crude Oil Futures Quotes, Charts, News

Oil Update: Proshares UCO

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CNBC's Bertha Coombs discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow

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S&P500 1250? Then Rally!

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I think the equity markets in the US are in the process of making a bottom somewhere between 1230 and 1250, Jeff Saut, chief investment strategist at Raymond James, told CNBC. I don't buy the double dip,I think you're going to see GDP reaccelerate to above 3 percent by the fourth quarter

Katie Stockton, MKM Partners, discusses whether the S&P 500 can slip even further this summer.

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SILVER WHEATON (SLW)

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Silver is nearing $33 an ounce as highlighted in previous post earlier today. This is a crucial level and needs to hold, SLW Wheaton as well is testing key levels near term. Last week ITZ noted a Falling Wedge formation, expected a breakout last week. Appears as if it will most likely see $30 or $29 as pointed out in chart below. The next few weeks will be decisive for risk plays as we deal with Greece as well as U.S. debt issues, QE2 ends, jobs reports and as earnings start coming out.

Silver Wheaton CEO Randy V.J. Smallwood is out with some interesting comments regarding the silver space and where he sees silver prices going..... Read more

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Gold, Silver, Oil & Dollar 6-27-11

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Analysis of the commodity markets and where to find the best investment opportunities, with Jim Steel, HSBC; Carl Larry, Energy Research & Derivatives; Boris Schlossberg, GFT Forex; and Anne Mulcahy, former Xerox chairman/CEO.