United States Oil Fund Rises 2.62% on Heavy Volume: Watch For Potential Pullback
United States Oil Fund (AMEX:USO) traded in a range yesterday that spanned from a low of $11.55 to a high of $11.79. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $11.51 on volume of 31.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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.
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 $11.74, 53% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has slid 1%.
Keywords: rebounders amex:uso united states oil fund