Wednesday, September 19, 2012

Crude Oil Sells Off 9-19-12

 Subscribe in a reader

ITZ has been calling for a test of $96 on the 8 hour chart LINK.

Yesterday's API report of a 2M bbl build followed by today's EIA build of 8.5M bbl build sent WTI through channel support heading towards ITZ target of $91.50.

ITZ took a 1/4 position in Proshares Ultra Crude Oil ETF UCO @ $32 today....lets give it a few days to play out. Looking to add to position.

  click on chart to expand image

No comments: