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 displays a bullish technical posture on the weekly timeframe, evidenced by a strong breakout candle pushing above the upper Bollinger Band and clearing the 50/200 SMA cluster. The establishment of higher lows since 2023 suggests buyers are stepping in earlier, supporting a potential test of the $83 resistance zone. While the long-term trend is still recovering within a broad range, momentum indicators like the MACD crossover and rising RSI favor the bulls in the intermediate term.
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USO Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price has closed strongly above the upper Bollinger Band (77.29) with a large green candle, indicating a volatility breakout. RSI is rising (63.69) with room to reach overbought territory.
Long-term Sentiment (weeks to months): Bullish
Price has successfully reclaimed levels above both the 50-week and 200-week SMAs. The market structure shows a series of higher lows since mid-2023, suggesting a sustained recovery trend.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-01-31T23:42:33.637Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $72.25 | $71.50 - $73.00 | Strong | Confluence zone containing the 50-week SMA, 200-week SMA, and the Bollinger Band basis (20 SMA). |
| $64.50 | $63.00 - $66.00 | Weak | Recent swing lows and lower Bollinger Band area. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $83.25 | $82.50 - $84.00 | Strong | Previous major swing highs from late 2023. |
| $91.50 | $90.00 - $93.00 | Strong | Major structural resistance from mid-2022 peaks. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Bollinger Band Breakout | Bullish | N/A | The current weekly close is significantly above the upper Bollinger Band, signaling strong momentum and potential trend continuation. |
| Weak | Ascending Triangle / Consolidation | Bullish | $92.00 | Price action since 2023 shows higher lows pressing against horizontal resistance in the low $80s. |
Frequently Asked Questions about USO
What is the current sentiment for USO?
The short-term sentiment for USO is currently Bullish because Price has closed strongly above the upper Bollinger Band (77.29) with a large green candle, indicating a volatility breakout. RSI is rising (63.69) with room to reach overbought territory.. 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 $72.25 and $64.50. 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 32/100. 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.
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