ProShares UltraShort DJ-UBS Crude Oil Bearish Moving Average Crossover Alert (SCO)
Today, shares of ProShares UltraShort DJ-UBS Crude Oil (NYSE:SCO) have fallen below their 10-day MA of $98.11 on a volume of 196K 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.
Over the past year, ProShares UltraShort DJ-UBS Crude Oil has traded in a range of $50.90 to $243.67 and is now at $96.58, 90% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.8% while the 200-day MA has risen 0.3%.
SmarTrend recommended that its subscribers protect gains by selling shares of ProShares UltraShort DJ-UBS Crude Oil on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $119.35. Since that call, shares of ProShares UltraShort DJ-UBS Crude Oil have fallen 15.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses proshares ultrashort dj-ubs crude oil