US oil may test support at $90.88
XLE•Technical view on US oil
US oil November contract CLX26 may test a support at $90.88 per barrel; a break below could trigger a fall into the $89.19-$89.83 range.
The downtrend is presumed intact within a falling channel. Five small waves make up the trend. The fifth wave, the wave e, is unfolding toward $89.19.
A break above $92.56 may lead to a gain into the $93.60-$94.45 range.
