Crude Oil (WTI)
BearishArchived analysis from Oct 5, 2026, 1:26 PM
Key insight
$88.66 breach of 50-day MA flips near-term bias bearish — next structural support sits at $87.00 (Aug swing low). Recovery needs a reclaim of $90.50 to neutralise selling pressure.
Drops 2% to $88.66, breaking below the 50-day MA near $90. USD strength (EUR/USD -0.4%) and demand concerns outweigh supply-side support, keeping sellers in control.
Main risk
OPEC+ supply policy shift
Surprise OPEC+ output cut announcement could snap price back above $90 fast, invalidating the bearish setup.
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