Aetram Global Research: USOUSD (US Oil Spot) Technical Research Report - 02.11.2026

Aetram Global Research: USOUSD (US Oil Spot) Technical Research Report 

Oil Slides Beneath Rising Support as RSI Turns Oversold; 101.00 Failure May Expose 99.30 While 103.10 Caps Recovery

• Chart Name: USOUSD (US Oil Spot)
• Current Market Price: 101.10
• Current Trend: US Oil has turned sharply bearish after losing its established rising support structure.
• Trend Dominance: Bears command immediate momentum, while deeply oversold conditions increase rebound sensitivity.

CHART OUTLOOK & PREDICTION

• US Oil has fallen beneath its rising trendline and 102.40–103.10 major moving-average cluster, materially weakening the previous bullish structure. RSI at 23.37 signals deeply oversold momentum, while MACD is firmly negative and ADX at 63.77 confirms powerful directional pressure. Recovery above 103.10 may reopen 104.40; below 101.00 could expose 99.30.

UPCOMING EVENTS

• Unexpected U.S. crude inventory build may pressure oil prices (Negative Catalyst)
• Lower U.S. rig activity could improve supply sentiment for crude (Positive Catalyst)
• EIA November outlook may pressure oil if demand forecasts weaken (Negative Catalyst)

MAJOR SUPPORT AND RESISTANCE

• Support Levels: 101.00 / 100.50 / 99.30
• Resistance Levels: 101.85 / 103.10 / 104.40

TREND, VOLUME & DOW THEORY ANALYSIS

• Dow Theory has deteriorated after US Oil lost its higher-low progression and slipped beneath rising structural support. Selling participation increased during the decline, while negative MACD, oversold RSI and strongly elevated ADX confirm bearish momentum. Recovery credibility improves only above 103.10.

SCENARIO-BASED OUTLOOK

• Bullish Scenario: Above 103.10, price may move toward the 104.40–105.60 zone.
• Bearish Scenario: Below 101.00, downside risk could extend toward the 100.50–99.30 zone.
• Neutral Scenario: Between 101.00–103.10, oversold stabilization and volatile consolidation may remain possible.

FINAL TAKEAWAY

• US Oil Spot has suffered meaningful structural damage after breaking its rising support and moving-average base. Momentum strongly favours sellers, although extreme RSI conditions increase rebound risk. Reclaiming 103.10 could improve tactical recovery prospects; below 101.00, downside vulnerability remains elevated.

CAUTION NOTES

• All Positivity Negates on breaking below 101.00.
• All Negativity Negates on breaking above 103.10.

DISCLAIMER: This research report is for informational purposes only. This is not an offer to buy or sell securities. Past performance is not indicative of future results. There is no guarantee of returns. Investments in securities are subject to market risks including loss of capital. Investors should consult their financial advisor before making any investment decisions.