ProShares Ultra Bloomberg Crude Oil 2X ETF (UCO)

[drt4nrg]

Hey Kam,
What is your expectation at this stage? Do you think there is high probability for a strong down leg? Or do you not have much bias either way?

If we can break below 50.15, then I can easily see a drop into the lower 49s or even a bit below, but I don't have a lot of conviction that we're not headed higher either. Have you fired up your time machine recently?

Thanks,
-Tim