USO United States Oil Fund LP Weekly Chart Analysis: 2026-Mar-06 07:12 CT

Price Action

WSFG Weekly

MSFG Month Mar

YSFG Year 2026

Swing Pivots

Weekly Benchmarks

Overall Rating

Key Insights Summary

USO has experienced a dramatic surge, with the latest weekly bar showing a large, fast momentum move to the upside, breaking out above prior resistance pivots and reaching a new swing high at 96.31. Both short-term and intermediate-term swing pivot trends have shifted to uptrends, confirming strong bullish momentum. The price is now well above all key moving averages except the 55- and 100-week, which are still in downtrends, suggesting the longer-term trend is still in transition. The next major resistance levels are at 100.85 and 110.84, while support is far below at 65.99 and 59.78, indicating a wide range and potential for volatility. The neutral bias in the session fib grids reflects the recent breakout from a prolonged consolidation phase, with price action now leading technicals. This move may be influenced by macro factors such as oil market news, seasonality, or supply shocks, and represents a significant shift from the choppy, range-bound action seen throughout 2023-2025. The overall structure suggests a possible trend continuation if momentum persists, but the distance from support and the lag in long-term moving averages highlight the need for ongoing monitoring of trend sustainability and volatility.


Chart Analysis ATS AI Generated: 2026-03-06 07:12 for Informational use only, not trading advice. Terms and Risk Disclosure Copyright © 2026. Algo Trading Systems LLC.