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Forecast update for crude oil – 08-09-2026
Crude oil price remains higher in its latest intraday trading, approaching the key resistance level of $92.80 preparing to attack it, amid continued positive support from trading above EMA50, which represents a dynamic support base that strengthens the chances of breaking through that resistance. This comes as the main short-term bullish trend remains dominant, with the price moving along major and minor trend lines supporting this trajectory.
However, we note the beginning of a negative crossover in the relative strength indicators, after they reached highly overbought levels, which may hinder the pace of the price advance.
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