trademan1
Long

Bearish on Crude Oil by purchasing DWTI 3x Inverse Crude Oil

AMEX:DWTI   VELOCITYSHARES 3X INVERSE CRUDE ETN LINKED TO THE S&P GSCI CRUDE OIL INDEX EXCES
This is a bearish posture on crude oil             , by going long on the 3x inverse crude oil             symbol DWTI             . The chart is making higher highs and higher lows on an uptrend lately. The MACD recently climbed above an intermediate resistance and is on its way to make all time highs. Likewise, the chart is approaching a previous high at 175.63, and looks like it should break out over turning it into support.
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