{"id":437549,"date":"2026-09-04T22:20:07","date_gmt":"2026-09-04T15:20:07","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-technical-analysis-crude-oil-futures-are-up-strongly-this-week-but-lower-on-the-day-437549\/"},"modified":"2026-09-04T22:20:07","modified_gmt":"2026-09-04T15:20:07","slug":"crude-oil-technical-analysis-crude-oil-futures-are-up-strongly-this-week-but-lower-on-the-day","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-technical-analysis-crude-oil-futures-are-up-strongly-this-week-but-lower-on-the-day-437549\/","title":{"rendered":"Crude oil Technical Analysis: Crude oil futures are up strongly this week but lower on the day"},"content":{"rendered":"<div>\n<p class=\"PDq2pG_selectionAnchorContainer\">The price of crude oil is up sharply this week after closing last week near $83.50. The rally gained momentum after the price moved above two important technical levels near $86.60: the 100-day moving average and the 38.2% retracement of the decline from the April 2026 high to the July 2026 low.<\/p>\n<p class=\"PDq2pG_selectionAnchorContainer\">\n<p>When different technical tools identify roughly the same price, that area becomes more significant. Moving above the $86.60 cluster shifted the technical bias more firmly in favor of the buyers and gave them the go-ahead to target the next resistance area.<\/p>\n<p>That resistance was defined by another area consisting of a number of technical levels :<\/p>\n<ul>\n<li>\nThe 50% midpoint of the April-to-July decline at $92.87.\n<\/li>\n<li>\nA series of swing highs going back to mid-June near $93.50.\n<\/li>\n<\/ul>\n<p>KEY LESSSON: Pay careful attention to technical levels defined by multiple tools.\u00a0<\/p>\n<p>The price reached a high of $93.14, between those two levels, before rotating modestly lower. The area between $92.87 and $93.50 remains a key ceiling for buyers to break if the bullish trend is to continue.<\/p>\n<p>There is an important lesson for traders in that price action. When several technical levels converge in the same area\u2014such as a Fibonacci retracement and previous swing highs\u2014traders will often lean against that zone and place stops above it. The reason is simple: the area provides a clearly defined level for both bias and risk.<\/p>\n<p>If the resistance holds, a rotation in the opposite direction becomes more likely. That does not necessarily mean the broader rally is over, but it can signal that the market is ready for a corrective move as some buyers take profits and short-term sellers enter the market.<\/p>\n<p>That correction took crude oil down to and briefly below its rising 100-hour moving average, currently near $89.62. The 100-hour moving average is an important short-term barometer. Trading above it keeps the buyers in greater control, while a sustained move below it would give sellers more confidence.<\/p>\n<p>However, the shorter-term five-minute chart provided another technical clue (see chart below). The move below the 100-hour moving average stalled before reaching the 38.2% retracement of the rally from the August 26 low. That retracement comes in at $88.00, which is also a psychologically important round-number level. The low for the day reached $88.72, comfortably above that support target, before the price rotated back to the upside.<\/p>\n<\/p>\n<p>Holding above the 38.2% retracement suggests that the decline was corrective rather than the start of a more significant bearish reversal\u2014at least for now. Buyers are attempting to restore the upside momentum, but they still have work to do.<\/p>\n<p>In the video above, I take a closer look at the price action and the key technical levels currently in play. I explain what buyers need to accomplish to strengthen the bullish bias and what would need to happen to shift control more decisively in favor of the sellers.<\/p>\n<p>For a look of the recent fundamentals, see Adam&#8217;s post <a href=\"https:\/\/investinglive.com\/commodities\/oil-climbs-on-reports-of-iran-ballistic-missile-launches\/\" rel=\"follow\">HERE<\/a>.\u00a0<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of crude oil is up sharply this week after closing last week near $83.50. The rally gained momentum after the price moved above two important technical levels near $86.60: the&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-437549","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/437549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=437549"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/437549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=437549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=437549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=437549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}