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DTO Expected to Climb


Friday August 7th, 2009
DTO Expected to Climb
by Mike Paulenoff www.MPTrader.com

My near-term work indicates that the decline in the PowerShares DB DoubleShort Oil ETN (NYSE: DTO) from its July high (low for crude oil) is at completion, which if accurate will mean that DTO prices climb towards those July highs.  Provided that today’s new corrective low at 71.01 contains any further intraday weakness, my first upside target is a climb to test the recent rally peak at 77.47.

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