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      Crude Oil Futures Show Resilience Amid Trading Range

      Crude oil futures are currently trading at $91.25, reflecting an increase of $1.85 for the day. The prices have fluctuated within a defined range, hitting a low of $88.58 and a high of $91.55. This rebound indicates a return towards a significant retracement level, although market participants note that buyers still face challenges in establishing stronger control over prices.

      Recent trading activity has seen prices dip below the support level of $88.79, but these breaks were not sustained, suggesting that buyers are actively defending the support area around $88.75 to $88.80. The inability of sellers to maintain downward momentum after these attempts is a critical observation for traders, as it may lead to a recovery if buyers can capitalize on this support.

      Looking ahead, the next significant resistance level for buyers is at $91.45, which corresponds to a 38.2% retracement. Today's peak of $91.55 briefly surpassed this level, but the price has since retreated to $91.25, indicating that a sustained break above $91.45 is necessary for a bullish outlook. Should buyers succeed in overcoming this hurdle, the next target would be the convergence of the 100- and 200-hour moving averages near $92.75, which represents another key test for market dynamics.

      © 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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