VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[GuTA]

So who exactly is NOT seeking an exemption from from the OPEC production cut? Lol

This has ALL the makings of Doha 2.0 beat trap: production cut talks.. followed by no deal .... followed by oil dip and rip to new highs.

My targets remain the same for the coming weeks - months

A move to 47 in the next 5-10 sessions followed by move back toward the 52 area neckline as we get closer to the OPEC meeting on 11/30 and the talking heads talk production cut, followed by a nasty but brief dip back toward the 200EMA (45ish) after no cut of meaning becomes a reality, before heading north and taking out the inverse HS neckline and reaching YTD highs as we head into 2017. From there it's a quick move as most see it to 58 and a new range is established.