WTI Crude Oil Technical Analysis: Holding $87 Support, Reversal Brewing? WTI crude oil has leveled out at around $89.80, after a pretty sharp drop from the $110 zone. Price is currently carved in a tight spot, just above a rising trendline that’s serving as a key support level around $87.00. That trendline coincides with a bit of a horizontal base that’s worth keeping an eye on. The 50-period moving average is acting like a bit of a roadblock around $95.00, and is keeping the short term outlook looking pretty cautious. But despite that, the recent formation of higher lows suggests that some buyers might be starting to get in on the action early. The Relative Strength Index (RSI) is currently stuck in the 40-45 zone, which suggests that the bearish momentum is starting to wane a bit – and that might be a sign of a potential rebound on the cards. If price can break above $95.00, then $100.00 is looking like a potentially achievable target – whereas if $87.00 support gives way, then we might see another leg down towards $82.00. #CrudeOil #WTI #USOil