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      Crude Oil Futures Rebound After Early Decline

      Crude oil futures have experienced a rebound after initially trading lower, with buyers stepping in to defend a significant cluster of technical support. The lowest price reached was $91.70, just above the 38.2% retracement level of the rally from the July low to the September high, which stands at $91.60. The price remained above both the rising 100-hour moving average at $91.36 and the 200-hour moving average at $90.86, providing traders with a clear area to assess risk.

      Currently, crude oil is trading near $93.79 after reclaiming the $93.48 level, which is crucial for maintaining upward momentum. The next target for buyers is yesterday's high at $94.36. A breakthrough above this level could lead to prices approaching the late-September highs near $96.50, followed by a swing area between $97.00 and $98.48.

      For sellers to regain control, a move back below $93.48 would weaken the current rebound. However, they would still need to navigate through the support cluster between $91.60 and $90.86. A sustained break below these levels could shift focus to Monday's low near $89.60 and the September swing low at $88.72. Below these thresholds, traders would look towards the 50% midpoint of the July-to-September rally at $86.91, which was tested earlier this month.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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