United States Oil(USO) is in an uptrend but could lose its momentum

(23-May-2008) (23-May-2008) United States Oil(USO) closed at 103.05, down -0.01 or -0.01 % today. Based on our analysis, United States Oil(USO) is in an uptrend but could lose its momentum.

The closing price of United States Oil(USO) is above its 50 day moving average of 94.35 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that United States Oil(USO) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 29-May-2008, about 4 trading days ago.