USO Daily Technical Analysis
United States Oil Fund
Designed to track the daily price movements of West Texas Intermediate (WTI) crude oil using futures contracts. Oil prices are driven by global supply and demand, OPEC policy, geopolitics, and economic growth expectations.
USO Technical Analysis Summary
USO exhibits a bullish technical posture, having recently reclaimed all major moving averages including the 200-day SMA. Momentum indicators are supportive, with the MACD rising above its signal line and the RSI holding in bullish territory without being overbought. The immediate focus is on holding the support cluster between 71.00 and 73.00 while attempting to break through resistance near 80.00.
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USO Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price is trading above the 20, 50, and 200-day SMAs; MACD is rising and positive; recent price action shows higher lows.
Long-term Sentiment (weeks to months): Bullish
Price has successfully reclaimed the 200-day SMA (72.13), and the 50-day SMA is curling upward, suggesting a potential trend reversal to the upside.
Report Metadata
- Timeframe: daily
- Generated at: 2026-02-03T15:17:39.515Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $72.14 | $71.05 - $73.23 | Strong | Cluster of 20-day, 50-day, and 200-day moving averages providing a dynamic support zone. |
| $66.60 | $66.00 - $67.20 | Strong | Recent swing lows and location of the lower Bollinger Band. |
| $62.50 | $62.00 - $63.00 | Weak | Significant swing low from the middle of the chart. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $79.88 | $79.27 - $80.50 | Strong | Upper Bollinger Band and recent candle wick highs. |
| $84.50 | $84.00 - $85.00 | Strong | Major swing high visible on the far left of the chart. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Bullish Trend Continuation | Bullish | $80.00 | Price has moved from a low of ~66.00 to break above significant moving averages with rising volume support. |
| Weak | Potential Golden Cross | Bullish | N/A | The 50-day SMA is approaching the 200-day SMA from below; a crossover would confirm long-term bullish momentum. |
Frequently Asked Questions about USO
What is the current sentiment for USO?
The short-term sentiment for USO is currently Bullish because Price is trading above the 20, 50, and 200-day SMAs; MACD is rising and positive; recent price action shows higher lows.. The long-term trend is classified as Bullish.
What are the key support levels for USO?
StockDips.AI has identified key support levels for USO at $72.14 and $66.60. These levels may represent potential accumulation zones where buying interest could emerge.
Is USO in a significant dip or a Value Dip right now?
USO has a Value Score of 47/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.