A very strong day for United States Oil Fund, LP ETF price on Thursday

The United States Oil Fund, LP ETF price gained 9.57% on the last trading day (Thursday, 12th Mar 2026), rising from $108.05 to $118.39. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 4.58% from a day low at $113.91 to a day high of $119.13. The price has risen in 9 of the last 10 days and is up by 48.41% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 million more shares were traded than the day before. In total, 92 million shares were bought and sold for approximately $10.94 billion.

The ETF has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $94.61, a level that may pose a second chance to hit a runner.

The United States Oil Fund, LP ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $104.76 and $83.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 02, 2026, and so far it has risen 57.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the ETF finds support just below today's level from accumulated volume at $108.05 and $105.86.There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, United States Oil Fund, LP finds support just below today's level at $108.05. If this is broken, then the next support from accumulated volume will be at $105.86 and $104.33.

This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $5.22 between high and low, or 4.58%. For the last week, the ETF has had daily average volatility of 11.39%.

The United States Oil Fund, LP ETF is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

United States Oil Fund, LP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold candidate.