Technicals-US oil may retest resistance at $92.89

SINGAPORE, Sept 8 (Reuters) - U.S. oil CLc1 may retest a resistance at $92.89 per barrel, a break above which could lead to a gain into the $93.74-$94.27 range.

The uptrend from $80.66 will be considered intact as long as the market stays above a support at $90.65. A projection analysis on the uptrend from $80.66 suggests a further gain to the 361.8% level of $93.74.

A break below the immediate support zone of $91.51-$92.09 would trigger a fall into the range of $88.74-$89.27. On the daily chart, a bullish wedge has been confirmed, indicating a target range of $94.52 to $97.16.

A projection analysis on a wave (c) from $74.30 points at the target of $94.52 as well. Indeed, this wave is capable of travelling to $100.76.