$DIG Weekly Long Set up51.81 would be confirmation for me. I like this set up and looking at purchasing 3 Jun16/23/70/C contracts monday.
251 long term target based off measured move from bullish triangular set up.
tradethatsetup@wokereverend
Key stats
About ProShares Ultra Energy
Expense ratio
0.95%
Home page
Inception date
Jan 30, 2007
DIG provides 2x leveraged exposure to the S&P Energy Select Sector Index, a market-cap-weighted index of US oil and gas companies. This is a concentrated market that especially captures industry giants. Specifically, the fund typically includes firms involved in oil and gas exploration and production, integrated oil and gas, equipment for oil as well as renewable energy, pipelines, and alternative fuel producers. As a geared product with daily resets, DIG is designed as a short-term trading tool and not a long-term investment vehicle. Long-term returns could materially differ from those of the underlying index due to daily compounding. Prior to Mar. 20, 2023, the fund was called ProShares Ultra Energy that tracked the Dow Jones U.S. Oil & Gas Index.
Classification
What's in the fund
Exposure type
Energy Minerals
Industrial Services
Government
Cash
Stock breakdown by region
DIG, MACD Histogram just turned negativeThis is a Bearish indicator signaling DIG's price could decline from here. Traders may explore shorting the stock or put options. Tickeron's A.I. dvisor identified 49 similar cases where DIG's MACD histogram became negative, and 45 of them led to successful outcomes. Odds of Success: 90%. Current pr
Sweet Heart Play : Call Contracts on DIGThis could be a 50:1 play. Even a 750:1 play if the price of oil were to skyrocket.
What you are looking at is the price of a Proshares ETF named DIG which is supposed to move at 2X the price of oil. It doesn't and does have decay problems but the correlation in price movement between it and OIL
DIG Short as Oil CollapsesAs the price of oil falls, we expect Oil ETF's to fall in line with it. Note this chart pattern indicates a breakout imminent either way. The Fibonacci levels give some intermediate profit targets before the point of support around $30.
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