ProShares Trust(UYG) is in an downtrend but momentum is showing some life

(28-Mar-2008) (28-Mar-2008) ProShares Trust(UYG) closed at 30.57, down -1.02 or -3.23 % today. Based on our analysis, ProShares Trust(UYG) is in an downtrend but momentum is showing some life.

The closing price of ProShares Trust(UYG) is below its 50 day moving average of 33.72 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that ProShares Trust(UYG) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 18-Mar-2008, about 8 trading days ago.