Time To Go Long On DUG?
09/03/2008 12:00 am EST
The UltraShort Oil & Gas ProShares ETF (DUG) is looking like a buy today after rising more than three dollars. It’s closed for the first time above the 200-day moving average and has bounced off it’s 50-day moving average which represented critical support.
Consider taking a long position but watch resistance at the 39.50 price point.