Tuesday, January 22, 2013

Lower Crude Prices- Time To Enter SCO?

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WTI Crude Oil nearing $97 today, it's been trading in synch with the S&P500. ITZ is looking for a bit more upside but a near term pullback to come.
click on charts to expand images
Gold/Oil Ratio is giving a SELL signal:
Proshares Ultra Short Crude Oil (SCO) ITZ is looking to phase into under $36. Follow on Twitter for current updates.
The Obama administration has delayed a decision on TransCanada Corp's rerouted Keystone XL oil pipeline until after March, even though Nebraska's governor on Tuesday approved a plan for part of the line running through his state. Read

CNBC's Sharon Epperson discusses the day's activity in the commodities markets as oil hits a four-month high. And Nebraska's governor approves a new route for the Keystone pipeline.

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