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 recently experienced an explosive parabolic advance, pushing technical indicators to historical extremes. The asset is currently undergoing a necessary and sharp structural pullback to digest these massive gains. While the short-term picture shows momentum cooling, the broader long-term context remains undeniably bullish as long as price holds above the major breakout zone near $90.
Included In Lists
Related Tickers of Interest
USO Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Neutral
Price is in a sharp pullback phase following a massive parabolic advance. RSI has cooled from extreme overbought levels (>90) down to the 60s, and the MACD histogram is declining, indicating waning short-term upward momentum.
Long-term Sentiment (weeks to months): Bullish
The long-term structural trend is strongly up. Price remains significantly above upward-sloping 50-week and 200-week SMAs, having recently broken out from a multi-year consolidation base.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-06-06T09:11:41.819Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $115.00 | $110.00 - $120.00 | Weak | Initial support zone formed by the recent low of the current pullback and the top of a minor consolidation before the final vertical spike. |
| $90.00 | $85.00 - $95.00 | Strong | Major structural support at the breakout level of the previous multi-year trading range. The rising 50-week SMA is also approaching this zone. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $145.00 | $140.00 - $150.00 | Weak | Immediate resistance found at the recent swing high during the current pullback phase. |
| $165.00 | $160.00 - $170.00 | Strong | Major overhead resistance marking the absolute peak of the recent parabolic blow-off top. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Parabolic Blow-off Top / Reversion | Neutral | N/A | A near-vertical, massive price spike characterized by huge volume and extreme RSI readings, followed by a sharp and rapid decline. |
Frequently Asked Questions about USO
What is the current sentiment for USO?
The short-term sentiment for USO is currently Neutral because Price is in a sharp pullback phase following a massive parabolic advance. RSI has cooled from extreme overbought levels (>90) down to the 60s, and the MACD histogram is declining, indicating waning short-term upward momentum.. 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 $115.00 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 49/100. 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.