USO United States Oil Fund LP Weekly Chart Analysis: 2026-Feb-24 07:11 CT

Price Action

• Last: 74.07,
• Bars: Large,
• Mom: Momentum fast.

WSFG Weekly

• Short-Term
• WSFG Current: NA%
• F0%/NTZ' Bias: Price Neutral,
• WSFG Trend: Neutral.

MSFG Month Feb

• Intermediate-Term
• MSFG Current: NA%
• F0%/NTZ' Bias: Price Neutral,
• MSFG Trend: Neutral.

YSFG Year 2026

• Long-Term
• YSFG Current: NA%
• F0%/NTZ' Bias: Price Neutral,
• YSFG Trend: Neutral.

Swing Pivots

• (Short-Term) 1. Pvt. Trend: UTrend,
• (Intermediate-Term) 2. HiLo Trend: DTrend,
• 3. Pvt. Evolve: Pvt High 84.58,
• 4. Pvt. Next: Pvt Low 65.99,
• 5. Levels R: 92.20, 84.58, 80.25,
• 6. Levels S: 72.92, 72.11, 70.14, 65.99, 60.75, 59.78, 57.83.

Weekly Benchmarks

• (Intermediate-Term) 5 Week: 75.71 Down Trend,
• (Intermediate-Term) 10 Week: 74.24 Down Trend,
• (Long-Term) 20 Week: 72.92 Up Trend,
• (Long-Term) 55 Week: 72.11 Up Trend,
• (Long-Term) 100 Week: 74.07 Down Trend,
• (Long-Term) 200 Week: 70.14 Up Trend.

Overall Rating

• Short-Term: Bullish,
• Intermediate-Term: Bearish,
• Long-Term: Neutral.

Key Insights Summary

USO is currently experiencing a strong upward move, as indicated by large bars and fast momentum, with the last price at 74.07. The short-term swing pivot trend has shifted to an uptrend, but the intermediate-term HiLo trend remains down, suggesting a possible countertrend rally or a developing reversal. Price is trading above key long-term moving averages (20, 55, and 200 week), but the 5, 10, and 100 week benchmarks are still in a downtrend, highlighting mixed signals across timeframes. Resistance is clustered at 84.58 and 80.25, with major support at 72.92 and 72.11, followed by deeper levels at 65.99 and below. The neutral stance of the Fib Grids across all timeframes suggests the market is in a transition phase, possibly consolidating after a period of volatility. Futures swing traders should note the potential for further upside if the short-term momentum persists, but the intermediate-term downtrend and overhead resistance levels could cap gains or trigger pullbacks. The overall structure points to a market at a technical crossroads, with both trend continuation and mean reversion scenarios in play.