Oil Trending Higher

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Over the last few years ITZ has noted the correlation between Gold & WTI Oil's movement. The trend currently is pointing towards higher oil prices. ITZ believes gold has resumed its trend higher and should be testing the $2000 level soon and oil $100...perhaps even higher.

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Gold ~ Oil Ratio

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Past ITZ Posts

ITZ Outlook For WTI Oil

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Let's see who wins the battle?
Oil specs raise net longs by most since June: CFTC LINK
CFTC data: Investors opt positive exposure to all markets except sugar and cotton. LINK
Oil Prices: Sanders Says Speculators Keeping Crude Artificially High LINK

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Past ITZ Posts

WTI Oil Heading Higher

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WTI Crude Oil appears to have found support at $90 a barrel and yesterday EIA report rallied it to nearly $96. ITZ has over the last several months highlighted the correlation between Oil's move, trailing that of Gold's by about 4 to 5 months. Click on chart to expand image Past Itz Posts

ITZ Chart of the Day: Oil Heading Higher

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Itz has posted over several months the 4 month lag oil has had to gold's move. Near term oil could move towards $95 or even $90, but that would present an opportune time to become long. ITZ continues to believe oil will see $120 before year end.
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