US Oil May Fall Into $87.62-$88.78 Range, Technical Analysis Says
The report says NYMEX oil may break support at $89.72 per barrel after twice failing to break resistance at $92.53.
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US oil may extend bounce into $91.82-$92.53 range
US oil may extend its bounce into a range of $91.82 to $92.53 per barrel, with immediate resistance at $90.66 and a fall potentially triggered by a break below $89.72.
MNI EUROPEAN MARKETS ANALYSIS: USD Supported Despite Lower Oil
* Oil has continued to trend lower during Wednesday's APAC session as talks continue on the sidelines of this week's UN gathering. The fact negotiations are even taking place to facilitate Middle East energy shipments is driving optimism in markets but the situation remains very precarious. UST futures are higher, but