MarketPR
West Texas Intermediate crude futures are holding in a tight range near $87.50, a level that has flipped from support to resistance, while sellers build toward a potential breakdown of the 100-day simple moving average sitting at approximately $86.80.
A confirmed daily close beneath that moving average — which would be the first such break since late February — would likely trigger stop-loss selling and put the $85.00 psychological floor in play.
Technical Setup: Two Moving Averages in the Crosshairs The $87.50 mark has capped every rally attempt since early in the week. Below current trade, the 100-day SMA at $86.80 is the level bears are pressing.
The Relative Strength Index on the daily chart has slipped beneath 50, which technicians read as a shift in momentum toward sellers.
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