Crude Oil (WTI)

Key insight

$92 is range midpoint: break above $94.80 Aug swing high opens $97–$98 supply zone; lose $89.50 200-day MA and $85 becomes the next structural floor.

Holds $92 — 200-day MA at ~$89.50 underpins, but resistance cluster at $94–$95 (Aug swing high) caps upside; -0.4% drift signals indecision at key range midpoint.

Main risk

China Demand Slowdown

Weakening Chinese manufacturing PMI threatens crude's largest import engine; a sub-$90 break confirms demand destruction.