As of March 24, 2026, UPRO (ProShares UltraPro S&P500) is in a bottoming attempt state on the weekly chart, with a confidence level of 56%. Key support is at $92.5 and key resistance at $104. Weekly pullback from the ~$120 area; price (~$100.21) is under SMA50 (~$101.95) and EMA50 (~$103.99) while still above EMA100/SMA100 (~$92-93); RSI14 ~41 shows weakening momentum
Base-building between ~$92-$104, then reclaim of EMA50/SMA50 leading to a retest of the prior breakdown zone and trend continuation attempt (Elliott: likely a corrective Wave 4 completing, setting up a potential Wave 5 push if the uptrend resumes).
Failure at ~$104 followed by loss of the ~$92-93 trend floor; deeper correction toward the long-term MAs (Elliott: a larger ABC correction where C extends).
Two weekly closes back above $104 (EMA50 region) would confirm a breakout-reversal attempt
Weekly close below $92 would invalidate the bottoming attempt and shift bias to a cleaner downtrend toward the EMA200/SMA200 zone
Start near EMA100/SMA100 confluence (~$92-93) as swing-low support; add on a larger Fibonacci-style retrace toward prior base/structure (~$84-88); heavy add near EMA200 (~$77) where long-term trend support often attracts demand.
Trim into prior highs ($112-120) and potential Wave-5 extension areas; increase trimming if price becomes stretched well above EMA50/100 with momentum; close into extreme multi-year extension zones if a parabolic run develops.
As of March 24, 2026, UPRO (ProShares UltraPro S&P500) is in a bottoming attempt state on the weekly chart with 56% confidence. Weekly pullback from the ~$120 area; price (~$100.21) is under SMA50 (~$101.95) and EMA50 (~$103.99) while still above EMA100/SMA100 (~$92-93); RSI14 ~41 shows weakening momentum
On the weekly timeframe, UPRO has key support at $92.5 and key resistance at $104. The most likely scenario (bullish) targets $112 and $120, with a revert level at $100.
UPRO (ProShares UltraPro S&P500) is currently classified as bottoming attempt on the weekly chart, with 56% confidence. Confirmation requires: Two weekly closes back above $104 (EMA50 region) would confirm a breakout-reversal attempt This would be invalidated by: Weekly close below $92 would invalidate the bottoming attempt and shift bias to a cleaner downtrend toward the EMA200/SMA200 zone
The most likely scenario (bullish) targets $112 and $120, with a revert level at $100. The alternative scenario (bearish) targets $84.0 and $77.0.
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