Showing posts with label oil UCO SCO $WTIC. Show all posts
Showing posts with label oil UCO SCO $WTIC. Show all posts

Thursday, July 19, 2012

Crude Oil Break Out

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WTI Crude Oil has broken out on an Inverted Head & Shoulders pattern. News out of the Middle East, geopolitical tensions are driving it higher. Near term some indicators are overbought & we could see a pullback, which should be bought. ITZ prefers using the Proshares ETFs both UCO (long) & SCO (short) to trade crudes movement.

Past ITZ Oil Post

click on chart to expand image