Overall USO gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, USO is only an average performer.
- Both the short term and long term trends are positive. This is a very positive sign.
- USO is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so USO is lagging the market slightly.
- In the last month USO has a been trading in the 67.34 - 80.38 range, which is quite wide. It is currently trading near the high of this range.
- USO has an average volume of 5455960 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, USO outperforms 54% of them, which is more or less in line with the market.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although USO has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
66.21
When analyzing the support we can see 2 important areas.
- A support zone ranging from 72.12 to 72.30. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 66.88 to 69.53. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 82.40 to 84.34. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for USO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for USO is up. |
| ChartMill Relative Strength | 54.53 | NEUTRAL | USO is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of USO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of USO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of USO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.09 | OVERBOUGHT | The high RSI value suggests USO may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.71 | POSITIVE | The MACD value suggests USO has a positive trend. |
| Stochastics (14,3) | 95.15 | OVERBOUGHT | The high Stochastics value suggests USO may be overbought. |
| Average True Range in percent/ATR (20) | 2.38 | MEDIUM VOLATILITY | The ATR as a percentage value for USO suggests some volalility. |
| Average Directional Index/ADX (14) | 16.84 | NEGATIVE | The low ADX value for USO suggests a weak or negative trend. |
79.14
+2.52 (+3.29%)
UNITED STATES OIL FUND LP / USO FAQ
What is the ChartMill technical rating of UNITED STATES OIL FUND LP (USO) stock?
ChartMill assigns a technical rating of 8 / 10 to USO.
Can you provide the trend direction for UNITED STATES OIL FUND LP?
The current trend direction for UNITED STATES OIL FUND LP (USO) is Bullish.
What is the RSI signal for USO stock?
UNITED STATES OIL FUND LP (USO) has an RSI value of 71.0946. This indicates that the stock is currently overbought.
What is the buy/sell signal for USO stock?
The buy/sell signal for UNITED STATES OIL FUND LP (USO) is buy as both the short term and long term trends are positive.
What is the support and resistance level for USO stock?
UNITED STATES OIL FUND LP (USO) has a support level at 72.3 and a resistance level at 82.4. Check the full technical report for our detailed analysis of USO support and resistance levels.