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On a year-to-date basis, the ProShares UltraPro 3x Crude Oil ETF (OILU) has crushed it by delivering around a 32% return. However, if you look closer at the data, you’ll see that over the last 6 months, we’ve seen a drawdown of nearly 40% in which crude prices retreated from their mid-year highs. In this piece, I will argue that I believe that crude is poised to push into fresh highs, and that in the coming days we will see much more upside for OILU.