Current price: 95
Key point: 90
Our preferred strategy: Buy positions above 90 with a first target of 98 and then a second target of 112.
Alternative scenario: Stop loss and change direction by breaking the 88 level, targeting the 80 level.
Technical commentary
After breaking through the resistance level of 90, oil reached the 100 level, then resumed its decline, but maintained its stability above 90. Oil is expected to continue its upward trend towards the 100 level, and if it breaks through that level, it will head towards the 112 level.
