ETNs like UCO, will they ever get off the single digits? if so how long?

[Hector Oseguera 0]

Seeing that UCO (Proshares Ultra Bloomberg Crude Oil ETF) is hanging in the low numbers like 1.28 to 1.40, I wonder how long would it be before it begins to move higher?

Of course, it is pegged to the WTI price, so I would imagine it will take quite a few months if not years before it moves up again....