USO (US Oil 32.17 -0.10 -0.31) continued to dip, while inverse oil ETFs climbed more.
• DUG (ProShares UltraShort Oil & Gas) up 4.63% to 72.44
• SCO (ProShares UltraShort Crude Oil 2x) up fractionally (0.40%) to 17.15
USO has traded up two of the last three sessions, which may indicate some form of halt to the slide in oil. UCO (ProShares Ultra Crude Oil 2x) was down 0.23% to 8.77.
The 1-year chart is somewhat favorable for USO ...
1-year (daily)
... but the 6-month chart shows the radical change in direction for USO, DUG and SCO
6-month (daily)
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