Replies to post #28432 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[BostonTrader]

All the TA in the world isn't likely to help you identify a bottom I don't think, because this is political. Oil does not need to be at this price, but the Saudis have led/allowed it to come here for longer term gains. The bottom is likely to be set off news of an agreed upon production cut including the Saudis. The problem is, no one knows when or what price will force their hand.

[3kidsplus1]

Or 15-35 weeks.

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