Monday, July 16, 2012

Is Crude Oil Set To Break Higher To $100?

 Subscribe in a reader

WTI crude oil is moving higher on news out of Dubai today.
US Navy ship kills 1 after firing at boat off Dubai read

Over the last 6 weeks oil has been setting up an Inverted Head & Shoulders pattern as annotated in the 8 hour chart below. ITZ is playing oil longer term via Proshares Ultra Crude Oil etf (UCO)

click on chart to expand image

1 comment:

itzstockchartz said...

8 hour chart