United States Oil Fund Crosses Below its 10-day MA (USO)
Today, shares of United States Oil Fund (AMEX:USO) have crossed bearishly below their 10-day moving average of $20.06 on a volume of 9.1 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, United States Oil Fund share prices have been bracketed by a low of $15.61 and a high of $39.44 and are now at $19.61, 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.2%.
SmarTrend recommended that subscribers consider buying shares of United States Oil Fund on April 14th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.84. Since that recommendation, shares of United States Oil Fund have risen 7.1%. 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