Gold futures broke that minor resistance trendline, but is now running up against major resistance $1675. RSI is overbought, look for a near term pullback before an attempt to break higher. As with gold, silver is up against major resistance as well.
ITZ suggests if you're long WTI Crude Oil via Proshares Ultra Crude ETF (UCO) to reduce position and consider taking a position into Proshares Ultra Short Crude Oil SCO.
WTI is testing the $96 level...ITZ has targeted $96/$97 as a near term top level. ITZ is entering a 1/4 position in SCO around $37.50Past ITZ Oil Post
ITZ sees a bit more upside here for WTI Crude Oil on the futures charts, below are the 1 hour & 8 hour chart. ITZ suggests using Proshares Ultra Crude Oil ETF (UCO) & Proshares Ultra Short Crude Oil (SCO).
ITZ was targeting $95 on WTI crude oil as a reversal level.... hitting $94.73. Downside target $92 - $91.68 hit in futures. Getting a bounce here support/resistance $93.20. Crude continues to trade within an ascending channel, further selling could send it lower to $89-$88 level. ITZ suggests using Proshares SCO in shorting oil and UCO for long positions.
The price of oil is lower on fresh concerns about the Chinese economy and a lower forecast for global demand for crude. link
Starbucks has a P/E ratio of 25.2, equal to the average leisure industry P/E ratio and above the S&P 500 P/E ratio of 17.7. The company has improved earnings per share by 19.4% in the most recent quarter compared to the same quarter a year ago. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. This current pullback should be bought for long term investors.