USO United States Oil Fund LP Weekly Chart Analysis: 2026-Aug-07 07:10 CT

Price Action

• Last: 118.86,
• Bars: Large,
• Mom: fast.

WSFG Weekly

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

MSFG Month Aug

• 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 Above NTZ,
• YSFG Trend: UTrend.

Swing Pivots

• (Short-Term) 1. Pvt. Trend: DTrend,
• (Intermediate-Term) 2. HiLo Trend: DTrend,
• 3. Pvt. Evolve: Pvt low 113.86,
• 4. Pvt. Next: Pvt high 138.30,
• 5. Levels R: 154.08, 142.33,
• 6. Levels S: 113.86, 102.42, 94.23, 65.99, 61.75.

Weekly Benchmarks

• (Short-Term) 5 Day: 120.50 Up Trend,
• (Short-Term) 10 Day: 121.04 Up Trend,
• (Intermediate-Term) 20 Day: 126.00 Up Trend,
• (Intermediate-Term) 55 Day: 101.98 Up Trend,
• (Long-Term) 100 Day: 84.72 Up Trend,
• (Long-Term) 200 Day: 78.23 Up Trend.

Overall Rating

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

Key Insights Summary

USO remains in a powerful longer-cycle expansion, trading materially above the rising 55-, 100-, and 200-week benchmarks and well above the 2026 yearly NTZ. The near-term structure is corrective: the pivot sequence is in DTrend following rejection from 142.33 and the prior 154.08 extreme, while price remains beneath the rising 5-, 10-, and 20-week benchmarks. The current rebound from the 113.86 pivot low reflects elevated two-way energy-market volatility rather than a settled short-term trend reversal. The 113.86 level defines the immediate swing reference, with 102.42 as the next major downside structure; 138.30, 142.33, and 154.08 frame the overhead recovery and breakout sequence. From a futures swing-trader perspective, the chart shows a bullish long-duration trend undergoing a fast, large-range countertrend pullback.