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After Yesterday's Rally of 1.15% Shares Could Potentially Pullback

By Nick Russo

United States Oil Fund (AMEX:USO) traded in a range yesterday that spanned from a low of $10.31 to a high of $10.54. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $10.40 on volume of 20.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for United States Oil Fund and will alert subscribers who have USO in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, United States Oil Fund share prices have been bracketed by a low of $7.67 and a high of $21.50 and are now at $10.52, 37% above that low price. 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%.

Keywords: rebounders amex:uso united states oil fund

Ticker(s): USO