USO Weekly 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 remains in a powerful macro uptrend following its multi-year range breakout above $90, supported by upward-trending 50-week and 200-week SMAs. The recent healthy pullback found a higher low near $105 before strongly rebounding back above the 20-week SMA toward $141.96. As long as the price maintains above the $125-$128 zone, the primary weekly trend favors a retest of the prior highs near $160.
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USO Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price formed a strong weekly bullish reversal candle, reclaiming the 20-week SMA ($127.96) after finding support at a higher low near $105, with RSI rebounding upward across 60.
Long-term Sentiment (weeks to months): Bullish
A decisive breakout above the multi-year $70-$90 consolidation range is reinforced by upward-sloping 50-week and 200-week SMAs in full bullish alignment.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-09-04T21:05:39.447Z
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $126.50 | $125.00 - $128.00 | Strong | Confluence of the 20-week SMA and intermediate weekly support. |
| $104.75 | $101.50 - $108.00 | Strong | Recent weekly correction swing low aligned closely with the rising 50-week SMA and lower Bollinger Band. |
| $80.50 | $78.00 - $83.00 | Strong | Major multi-year breakout shelf and 200-week SMA. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $151.50 | $150.00 - $153.00 | Weak | Upper Bollinger Band barrier and psychological round level. |
| $161.00 | $158.00 - $164.00 | Strong | Prior swing high and all-time cycle high from early 2026. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Multi-Year Range Breakout | Bullish | $160.00 | Massive breakout above a three-year horizontal base ($60-$90) supported by huge volume expansion. |
| Strong | Bullish Continuation (Higher Low) | Bullish | $162.00 | Weekly pullback found decisive support near $105 and reversed upward back above the 20-week SMA, confirming trend continuation. |
Frequently Asked Questions about USO
What is the current sentiment for USO?
The short-term sentiment for USO is currently Bullish because Price formed a strong weekly bullish reversal candle, reclaiming the 20-week SMA ($127.96) after finding support at a higher low near $105, with RSI rebounding upward across 60.. 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 $126.50 and $104.75. 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 14/100. 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.