United States Oil Fund (USO) Monthly 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 has undergone a structural regime shift following a decisive monthly breakout above its multi-year accumulation base and the 200-month SMA. Strong monthly momentum is supported by the RSI entering secular bull territory above 70 and expanding volume bars. While overhead resistance zones loom around 220-250 and 320-370, the long-term posture remains distinctly bullish as long as the 135-145 breakout level holds on monthly pullbacks.
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USO Monthly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price has staged an aggressive breakout above the multi-year base and the 200-month SMA, riding the upper Bollinger Band with expanding volume and RSI exceeding 70.
Long-term Sentiment (weeks to months): Bullish
The multi-year accumulation base formed between 2020 and 2025 has resolved to the upside, with price clearing major historical moving averages (50-month and 200-month SMAs) confirming a secular regime shift.
Report Metadata
- Timeframe: monthly
- Generated at: Nov 1, 2026
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $140.00 | $135.00 - $145.00 | Strong | Prior multi-year range breakout boundary and the declining 200-month simple moving average (~141.60). |
| $90.00 | $80.00 - $100.00 | Strong | Major multi-year consolidation shelf anchored by the 20-month SMA (98.54) and 50-month SMA (82.70). |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $235.00 | $220.00 - $250.00 | Moderate | Structural breakdown area from 2014-2015 prior to the extended multi-year consolidation. |
| $345.00 | $320.00 - $370.00 | Strong | Major secular horizontal floor established between 2011 and 2014, acting as substantial overhead supply. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Secular Base Breakout | Bullish | $240.00 | A massive multi-year accumulation base developed from 2020 through late 2025, culminating in a high-volume monthly breakout above the key 140 horizontal hurdle and the 200-month SMA. |
Frequently Asked Questions about USO
What is the current sentiment for USO?
The short-term sentiment for USO is currently Bullish because Price has staged an aggressive breakout above the multi-year base and the 200-month SMA, riding the upper Bollinger Band with expanding volume and RSI exceeding 70. 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 $140.00 and $90.00. 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 83/100. It is currently flagged as a significant dip in the Top Dips list. It is also listed as a Value Dip because long-term sentiment is bullish.
View the full interactive analysis on StockDips.AI.