USO United States Oil Fund LP Weekly Chart Analysis: 2026-Apr-24 07:08 CT

Price Action

Last: 134.72,
Bars: Large,
Mom: Momentum fast.

WSFG Weekly

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

MSFG Month Apr

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: UTrend,
3. Pvt. Evolve: Pvt high 137.40,
4. Pvt. Next: Pvt low 110.78,
5. Levels R: 140.00, 137.40,
6. Levels S: 110.85, 106.43, 94.35, 91.75, 65.99.

Weekly Benchmarks

(Intermediate-Term) 5 Week: 90.56 Up Trend,
(Intermediate-Term) 10 Week: 84.39 Up Trend,
(Long-Term) 20 Week: 77.13 Up Trend,
(Long-Term) 55 Week: 74.24 Up Trend,
(Long-Term) 100 Week: 77.09 Up Trend,
(Long-Term) 200 Week: 72.42 Up Trend.

Overall Rating

Short-Term: Bullish,
Intermediate-Term: Bullish,
Long-Term: Bullish.

Key Insights Summary

USO has experienced a dramatic surge, with price action showing large, fast momentum bars breaking well above all major resistance and long-term moving averages. The current swing pivot trend is strongly up, with the most recent pivot high at 137.40 and resistance at 140.00. Support levels are now well below the current price, indicating a significant move away from prior consolidation zones. All benchmark moving averages are trending up, confirming broad-based strength across timeframes. The chart reflects a breakout from a prolonged consolidation, with the price now in a new high zone for the period shown. This move may be influenced by macro factors such as geopolitical events, supply shocks, or seasonal demand, but technically, the structure is bullish across short, intermediate, and long-term horizons. The market is in a strong uptrend, with the next key test at the 140.00 resistance, while any retracement could look to the 110.85–106.43 area for potential support.