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ProShares Ultra DJ-UBS Crude Oil Crosses Above its 10-day MA (UCO)

By Shiri Gupta

ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) shares have crossed bullishly above their 10-day moving average of $11.11 on a volume of 4.9 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of ProShares Ultra DJ-UBS Crude Oil have traded between a low of $5.98 and a high of $49.78 and are now at $11.48, which is 92% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has slid 2%.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra DJ-UBS Crude Oil on April 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.34. Since that recommendation, shares of ProShares Ultra DJ-UBS Crude Oil have risen 3.6%. 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