TradeWize · free chart read

USO is coiling inside a bull pennant with no clear trend under a 4 hour downtrend. The coil is on thin volume. $147.26 ends the pennant, $147.37 resumes the rise.

USO · 5M · read on 2026-10-04 · Still forming.

What the read found

Trend: a series of higher highs and higher lows over the window, 4 steps across 49 bars — and that run is OVER: price closed below the last higher low 19 bars ago. Do not describe it as a trend that is still running.
Formation: bull pennant — Still forming.
Decides above: $147.37 (the bull pennant)
Decides below: $147.26 (the bull pennant)
Resistance: $147.87
Resistance: $150.19
Level history: The last three times price reached $147.87 it held every time, bouncing 0.8% on average.
Level history: The last two times price reached $150.19 it held every time, bouncing 5.1% on average.

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Every figure on this page was computed from the real candles up to 2026-10-04. This is a description of a chart, not advice, a signal or a forecast. Disclaimer · What a read returns