Best Oil ETFs For Oil Rebounding

Oil has taken a very significant tumble in recent days, as seen above by the chart of West Texas Intermetiate contracts, and below by the chart of the USO ETF:



We track all oil ETFs live as one of our live tracking sites.

Oil is oversold in the short term. Shall it rebound, the question is which ETFs stands to benefit the most. This can be usually determined by the relative strength values.

We computed the relative strength values of all of them and sorted them by short term frames, as well as the average of all time frames.

Short term:



Most oversold are OIL, DIG, HOU.to, USO, and OIH.

DDG and DUG, on the other hand, are the most overbought.

Overall:



In terms of RSIA, results are similar, most oversold are HOU,to, OIL, OIH and USO. Note the most overbought ETFs are DUG and SZO.

ETF names:




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