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Bearish Moving Average Cross by ProShares Ultra DJ-UBS Crude Oil (UCO)

By David Diaz

Today, shares of ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) have crossed bearishly below their 10-day moving average of $36.82 on a volume of 228K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of ProShares Ultra DJ-UBS Crude Oil have traded between a low of $27.48 and a high of $40.02 and are now at $36.36, which is 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra DJ-UBS Crude Oil on May 14th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.84. Since that recommendation, shares of ProShares Ultra DJ-UBS Crude Oil have risen 3.5%. We continue to monitor UCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses proshares ultra dj-ubs crude oil

Ticker(s): UCO