United States Oil Fund Crosses Below its 10-day MA (USO)
Today, shares of United States Oil Fund (AMEX:USO) have fallen below their 10-day MA of $38.56 on a volume of 4.6 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of United States Oil Fund have traded between a low of $30.79 and a high of $39.54 and are now at $38.27, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.
SmarTrend recommended that subscribers consider buying shares of United States Oil Fund on April 29th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.48. Since that recommendation, shares of United States Oil Fund have risen 15.5%. We continue to monitor USO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses amex:uso united states oil fund