TECHNICALS — US oil may climb into $96.19 — $96.79 range

For more technical analyses, click TECH/C SINGAPORE, Oct 14 (Reuters) — US oil may climb into a range of $96.19 to $96.79 per barrel, as it has broken a key resistance at $94.61. The break confirms an extension of an uptrend from $87.93 toward the $97.77-$98.74 range, formed by its 238.2% and the 261.8% projection levels. A realistic target zone will be from $96.19 to $96.79. A retracement analysis on the downtrend from $106.75 to $86.90 marks a target of $96.83, the 50% level. A break below $94.61, now a support, may cause a fall into the $93.03-$93.64 range. On the daily chart, the market not only hovered above a rising trendline, but also rose steadily. The uptrend from $67.04 is presumed to have continued. Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are published exclusively on the Workspace - platform provided by London Stock Exchange. * No information in this analysis should be considered as being business, financial, or legal advice. Each reader should consult his or her own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses. cl