Crude Oil (WTI) OIL technical analysis

OIL trades at 91.929, down 5.68% over 24 hours. The 4h RSI14 sits at 23 with price below the 4h SMA20 of 97.914, while the 1D RSI14 is 58 and price holds under the 1D SMA20 of 93.082; the daily trend is mixed.

The immediate battle is at 91.48-92.29, a 4h resistance with 3 touches, tested from below. Below it, 4h support at 90.7222-90.9978 has 1 touch, and 1D support at 90.9122-91.1878 has 1 touch. Above, 4h resistance at 93.0022-93.2778 and 1D resistance at 93.4322-93.7078 (2 touches) cap the range.

Bulls would need acceptance above 91.48-92.29 to open 93.0022-93.2778 and 93.4322-93.7078. Bears need a break below 90.7222-90.9978 and 90.9122-91.1878 to target 89.4322-89.7078, then 88.7072-88.9828 (2 touches) and 88.66-89 (3 touches).