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JohnsonLamay
Nov 21, 2022 4:56 PM

UCO Weekly Fib & VWAP Long

ProShares Ultra Bloomberg Crude OilArca

Description

Looking for reversal upon the 0.618 or 0.786 zone, this chart is right in line with USOIL, unlike GUSH, which is lagging well behind USOIL. Building a solid bottom along the 0.618 level. If USOIL moves lower to the $72.00 range, we could see a prime entry at the 0.786 level on UCO of around $20.90.

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