Bullish Moving Average Cross by United States Oil Fund (USO)
United States Oil Fund (AMEX:USO) crossed over its 10-day moving average of $10.96 on a volume of 12.1 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
Over the past year, United States Oil Fund has traded in a range of $7.67 to $21.50 and is now at $11.20, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.3%.
SmarTrend is monitoring the recent change of momentum in United States Oil Fund. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of United States Oil Fund in search of a potential trend change.
Keywords: moving crosses amex:uso united states oil fund