Crude Oil Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Light Sweet Crude Oil is currently consolidating near $89.62 within a descending channel, pressured directly below its downward-sloping 20 SMA ($90.37). The asset is testing a multi-touch horizontal support shelf at $89.50–$89.00, where repeated lower wicks reflect defending buyers, with the channel base at $88.50–$88.00 acting as the line in the sand against an extended breakdown toward $86.00. A bullish breakout requires a clean push through the 20 SMA to challenge the upper descending trendline around $92.80–$93.20, whereas losing the $88.50 shelf confirms continued downward continuation



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