US oil may fall into $91.82-$92.78 range
USO•The US oil November contract may fall to $91.82-$92.78 per barrel after failing to break resistance at $96.73. A break above $94.91 may lead to a gain into the $95.64-$96.82 range.
1. Technical outlook
The US oil November contract may fall into a range of $91.82 to $92.78 per barrel after failing to break resistance at $96.73. The failure indicates the bounce from $88.73 may have completed, while support at $93.73 appears unable to hold as the market retests it. A break above $94.91 may lead to a gain into the $95.64-$96.82 range.
