Crude Oil (WTI)

Neutral

Archived analysis from Oct 12, 2026, 1:24 PM

Key insight

93.00 sits flush against SuperTrend resistance at 93.32; a confirmed daily close above flips the Bear Flag bearish bias and opens the door to 96.00 (UBS Dec target). Failure here puts 89.67 session low back in play.

93.00 tests SuperTrend resistance at 93.32 — US-Iran diplomatic signals drained the risk premium, but Houthi attacks on Riyadh airport and UBS's $96 WTI target keep upside alive.

Main risk

US-Iran Diplomatic Breakthrough

Confirmed de-escalation collapses the Strait of Hormuz risk premium — G7 SPR releases plus OPEC/IEA demand downgrades then push WTI back toward 87.20.

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