Technicals-US oil may test resistance at $95.12

SINGAPORE, Sept. 9 (Reuters) - U.S. oil CLc1 may test a resistance at $95.12 per barrel, a break above which could lead to a gain into the $95.65-$96.65 range.

The uptrend from $80.66 will be considered intact as long as the market stays above a support at $92.09. A projection analysis on the uptrend reveals a break above the 361.8% level of $93.74.

The break opened the way toward the 438.2% level of $96.50. Support is at $93.74, a break below which could trigger a fall into the range of $92.09 to $92.89.

On the daily chart, a bullish wedge has been confirmed, indicating a target around $104. A projection analysis on a wave (c) from $74.30 marks a lower target of $100.76, as this wave has travelled far above the 61.8% level of $90.66.

The current rise looks steady and systematic, as it followed a sufficient period of consolidation from $93.50. It might be the continuation of the uptrend from the Dec. 16, 2025, low of .