UCO a crude oil ETF LONG Long

ProShares Ultra Bloomberg Crude OilArca

Description

⋅ Aug 8, 2023 5:54 AM

UCO popped in April and then dropped into a consolidation in May and June where

it set up a base shown by the POC line on the volume profile. Once over the POC

on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210

combination the bull trend began. The dual time frame RS lines in the 60s suggest

more to come. I am trading UCO and similar oil-based instruments including USOUSD

or forex in the near term until I see signals of a topping that are not yet evident.

Trade active

⋅ Aug 10, 2023 11:06 PM

Price up 2.5% Stop loss reasied over entry price so risk is off.

Comments

AwesomeAvani

⋅ Aug 8, 2023 6:01 AM

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Milo_Selhi

⋅ Sep 12, 2023 4:02 PM

Good call here! I see the $39 target before a correction/crash