Crude Oil Technical Analysis

Following the recent bounces from below the $91.50 level the close well above the 21-DMA sees focus shift to layers of resistance in the $96.00-98.70 region which includes the 55, 100 & 200-DMAs, the Bollinger band top and Fibonacci retracements. The 21-DMA now becomes key support with bears needing a close below to ease bullish pressure and shift focus back to the $90.43 level
RES 4: $96.98 – 55-DMA
RES 3: $96.59 – 200-DMA
RES 2: $96.00 – High Aug 29
RES 1: $94.99 – High Sept 5
PRICE: $94.74
SUP 1: $94.57 – Hourly support Sept 17
SUP 2: $93.64 – 21-DMA
SUP 3: $92.46 – Hourly support Sept 16
SUP 4: $91.77 – Alternating hourly support/resistance