Oil Bounces. Watch These Resistance Levels
This morning the United States Oil Fund(NYSE:USO) has rallied higher from the opening bell. The USO has been under selling pressure over the past few trading sessions. This morning the USO is trading higher by 0.35 cents to $43.10 a share. Short term day traders can watch for intra-day resistance on the USO around the $43.25 area and more around the $43.50 level. Small pullbacks could occur around both levels.