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United States Oil Fund Set to Possibly Pullback After Yesterday's Rally of 2.62%

By David Diaz

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, shares of United States Oil Fund have traded between a low of $7.67 and a high of $21.50 and are now at $11.74, which is 53% above that low price. Over the past week, 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