Crude Oil (WTI)
BullishArchived analysis from Oct 8, 2026, 3:35 AM
Key insight
$89.40 clears the 200-day MA at $87.50 and Aug resistance at $88.80 — next hurdle is the $91.00 swing high from July. Hold above $88.80 on any pullback to confirm breakout validity.
Breaks above $89 for first time since Aug, +1.8% today; 200-day MA at $87.50 now confirmed support. Supply-side discipline from OPEC+ and geopolitical risk premium keep bid tone intact.
Main risk
Demand destruction — China slowdown
Weak Chinese manufacturing PMI below 50 signals softening crude demand; a break below $87.50 200-day MA reopens $84.00 support.
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