Tuesday, December 27, 2011

WTI OIL Heading Higher

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ITZ over the last several months has been targeting $110 WTI Oil in early 2012. Looking at several indicators Gold/Oil Ratio & Oil/TLT which is currently at 0.857. That said there is some caution based on ITZ observation that oil trails gold's move by about 4 months. If that hold true, then oil should see selling in January, just something to watch. Below are 3 time frames for WTI Oil...monthly, weekly and daily. ITZ has suggested using Proshares Ultra Crude Oil ticker UCO as well as Direxion Energy Bull ticker ERX. Note these are levered and high risk etf's.

~Click on charts to expand images~

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