US oil may end bounce in $91.90-$93.14 range
USO•US oil may end its bounce between $91.90 and $93.14 per barrel, while the downtrend may remain intact. A break below $90.65 could trigger a fall to $88.17-$89.11.
1. Technical outlook
The analysis says a wave from $105.03 appears incomplete and may extend into the $91.90-$93.14 range. Support is at $90.65; a break below it may lead to a drop to $88.17-$89.11. A further bounce may occur, but the downtrend may remain intact.
