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After Yesterday's Rally of 1.07% Shares Could Potentially Pullback

By James Quinn

United States Oil Fund (AMEX:USO) traded in a range yesterday that spanned from a low of $10.70 to a high of $10.92. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $10.78 on volume of 19.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

United States Oil Fund share prices have moved between a 52-week high of $21.50 and a 52-week low of $7.67 and are now trading 42% above that low price at $10.89 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 1.8%.

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: rebounders amex:uso united states oil fund

Ticker(s): USO