US oil forecast to retrace to $86.52-$90.96 zone in Q4 before resuming uptrend

US oil is expected to retrace into a support zone of $86.52-$90.96 per barrel in the fourth quarter before resuming its uptrend and retesting the resistance at $105.75, The correction is expected to be the same degree as the one from the July 23 high of $93.50, to extend to $86.52, as pointed out by a rising channel. A weaker correction may end prematurely around $90.96. A break below $86.52 would be a very bearish signal. On the weekly chart, the rise from $54.77 is presumed to be the continuation of the uptrend from the April 2020 low of $10.07. The