The oil price retested $92.00 yesterday, after which we saw the price drop to the $88.00 level. During the Asian trading session, the price of oil recovered to the $89.40 level. There we now have a new obstacle, and the price is once again turning towards the $88.00 support zone. We need a continuation of negative consolidation and a drop below this morning’s support zone for a bearish option. Potential lower targets are $87.00 and $86.00 levels. We need a positive consolidation and a return above the 90,004 level for a bullish option. Then we need to hold above to consolidate and continue further towards the $92.00 ... (full story)