On June 16th ITZ suggested entering a half position on Proshares Ultra Crude Oil ETF (UCO) @ $42.50 see post
Yesterday, Itz suggested that those trading UCO add to their position $37/$38. ITZ PIX added to it's position today @ $38. WTI seems to have settled around the $90 level as traders are digesting the IEA news to tap the SPR as well as the Greek/Euro issues and U.S. economic reports. We could still see oil test lower levels, but ITZ continues to see WTI oil trending higher into year end as supplies tighten.
A look at the long term effect of the IEA's release of oil from the strategic reserve, with Daniel Fisher, MBF Trading.
Discussing whether the release of oil was a good move for consumers, with Bart Chilton, Commodities Futures Trading Commission, and Gordon Bethune, former Continental Airlines chairman/CEO.
Commitments of Traders NYMEX out each week @ 3:30pm
CRUDE OIL, LIGHT SWEET - NEW YORK MERCANTILE EXCHANGE Link
Oil Futures Charts
Past Itz Posts