Crude Oil (WTI)
BearishArchived analysis from Nov 3, 2026, 2:25 PM
Key insight
$95 rejected for the second session running; 200-day MA at $96.50 is the line bulls must reclaim or the path to $91 opens fast. OPEC+ supply discipline is the only structural floor.
Fails to hold $95 — rejection at the key round number keeps WTI below the 200-day MA near $96.50, with demand concerns from China and a firming USD capping any recovery.
Main risk
OPEC+ surprise output change
Unscheduled OPEC+ cut or delay to unwind could squeeze shorts violently above $96.50, invalidating the bearish structure.
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