UCO Stock Chart.
Interactive Chart for ProShares Ultra Bloomberg Crude (UCO), analyze all the data with a huge range of indicators. UCO advanced stock charts: view historical UCO data and compare to other stocks and exchanges.
US Oil also broke out of its down channel. There should be a retest. Watch how UCO behaves when it hit the upper down channel line. Could be a continuation of the up channel or the down channel.
The trend is your friend. Bull oil ETF for possible gain. Should it continue bull, target around 16ish and should find itself oversold on the daily then pull back. Just a short term trend thing. Despite the best of efforts, societies are still dependent on fossil fuels as technology reaches for alternatives to replace the coveted leader in energy but until then inventories should start to reflect the draw-down as traders dominate this market providing divergence between what is today and where we will be tomorrow.
To read more and how to trade this Based on the cyclical evolution of UCO, it could be the time to buy. Long on oil etf. I'm surprised oil stocks are that low. With OPEC agreeing on cutting oil production soon, this is poised to breakout.
UCO has an interesting setup to go long at the open, ideally if we make a new daily low here. We can enter at the open, but it'd be nicer if we hit 8. For example, convertible arbitrage looks for price differences among linked securities, like stocks and convertible bonds of the same company.
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