Edges Grow in Real Estate, Russia as Energy ETFs Remain Oversold: 7 ETFs You Need to Know for Friday

Heading into trading on Friday, selling in real estate and REIT related exchange-traded funds has created significantly oversold conditions in funds like the ^IYR^ and the ^RWR^, both of which have closed lower for two days in a row.

Traders will also find increasingly oversold conditions in a number of commodity-based ETFs, regardless of whether than commodity is oil (as in the oversold ^XLE^) or agriculture (as in the ^DBA^).

Here are 7 ETFs You Need to Know for Friday.

The most oversold country fund heading into the final trading day of the week is the ^RSX^ (below).

RSX chart

Shares of RSX have closed lower for two out of the past three trading days. The fund was last in oversold territory above the 200-day just over a week ago.

In addition to the oversold real estate fund noted above, both the ^ICF^ and the 2-to-1 leveraged ^URE^. Both ETFs have closed lower for two consecutive trading days.

Overbought and closing higher a seventh day in a row is the ^SLV^ (below).

SLV chart

SLV has closed with a 2-period RSI of more than 99 for the past three sessions in a row.

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Also lower for two out of the past four trading days heading into the final trading day of the week is the ^XLI^.

Another agriculture-based ETF that has pulled back into oversold territory is the ^MOO^ (below).

MOO chart

MOO has pulled back for three days in a row, with the past two closes in the fund in oversold territory above the 200-day.

Closing in oversold territory for the past two days in a row were shares of the ^XOP^.

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David Penn is Editor in Chief of TradingMarkets.com.