The oil price fell further yesterday, failing to stay above $88.00, followed by a drop to the $84.50 level. During the Asian session, the price of oil fell to the $84.00 level. The price manages to consolidate and climb above the $85.00 level. We need a positive consolidation to the $86.00 resistance level to continue the bullish trend. Then we need to see the break prices above. We have additional resistance in the MA50 and MA200 moving averages. And potential higher targets are $87.00 and $88.00 levels. We need a negative consolidation and a return to support at the $84.00 level for a bearish option. A price break ... (full story)