Thursday, March 29, 2012

WTI Crude Oil Update 3-29-12

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ITZ has noted in past blog posts read that WTI Crude Oil is in an Inverse Head & Shoulders formation. Talk of the world's strategic reserves being released along read with Wednesday's EIA weekly report showing a huge increase...have placed pressure on WTI oil prices this week. ITZ believes we're near a cycle low here and oil will reverse higher as indicated in the charts below.

click on charts to expand images

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