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ProShares UltraShort DJ-UBS Crude Oil Bullish Moving Average Crossover Alert (SCO)

By Shiri Gupta

Today, shares of ProShares UltraShort DJ-UBS Crude Oil (NYSE:SCO) have crossed bullishly above their 10-day moving average of $26.07 on a volume of 144K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, ProShares UltraShort DJ-UBS Crude Oil has traded in a range of $24.06 to $36.64 and is now at $26.26, 9% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.8%.

SmarTrend is monitoring the recent change of momentum in ProShares UltraShort DJ-UBS Crude Oil. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ProShares UltraShort DJ-UBS Crude Oil in search of a potential trend change.

Keywords: moving crosses proshares ultrashort dj-ubs crude oil

Ticker(s): SCO