Bearish Moving Average Cross by ProShares Ultra DJ-UBS Crude Oil (UCO)
Today, shares of ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) have fallen below their 10-day MA of $38.00 on a volume of 848K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
ProShares Ultra DJ-UBS Crude Oil share prices have moved between a 52-week high of $40.02 and a 52-week low of $24.75 and are now trading 51% above that low price at $37.34 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.5%.
SmarTrend is tracking the current trend status for ProShares Ultra DJ-UBS Crude Oil and will alert subscribers who have UCO in their portfolio or watchlist when shares have changed trend direction.
Keywords: moving crosses proshares ultra dj-ubs crude oil