High volatility in United States Oil Fund, LP fund price on Wednesday which ended trading at $75.47

The United States Oil Fund, LP fund price fell by -11.66% on the last day (Wednesday, 9th Mar 2022) from $85.43 to $75.47. During the day the fund fluctuated 12.22% from a day low at $72.27 to a day high of $81.10. The price has risen in 7 of the last 10 days and is up by 13.93% over the past 2 weeks. Volume fell on the last day along with the fund, which is actually a good sign as volume should follow the fund. On the last day, the trading volume fell by -45 thousand shares and in total, 30 million shares were bought and sold for approximately $2.25 billion.

The fund lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the fund is expected to rise 40.17% during the next 3 months and, with a 90% probability hold a price between $96.83 and $120.32 at the end of this 3-month period.

The United States Oil Fund, LP fund holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the fund giving a positive forecast for the stock. On further gains, the fund will meet resistance from the short-term moving average at approximately $77.79. On a fall, the fund will find some support from the long-term average at approximately $66.46. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 08, 2022, and so far it has fallen -11.66%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

United States Oil Fund, LP finds support from accumulated volume at $75.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This fund may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this fund is considered to be "high risk". During the last day, the fund moved $8.83 between high and low, or 12.22%. For the last week, the fund has had a daily average volatility of 6.55%.

United States Oil Fund, LP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.