Oil ETFs Bounce at 200-Day Average
May 19, 2011 at 08:30 AM EDT
Oil exchange traded funds have been hit by margin hikes and a rally in the dollar, but they’ve encountered buying interest this week at a key technical level. The $1.7 billion U.S. Oil Fund (NYSEArca: USO) is down nearly 8% over the past month. However, the ETF bounced this week at its 200-day...