Technicals: Week 36
Tuesday, September 8, 2026. CRUDE OIL TECHNICALS. WTI crude trading near $92 to $93 per barrel. Testing key resistance. Price action September 7 close around $90 to $92.29. Consolidating near $90 after earlier gains. Bullish structure above moving averages. Ascending channel since late August. Support levels: $92.47 (50% Fib critical), $91.00-$91.04 (100-hr/ST MA), $88.01/$86.40-$86.99 (38.2%/50% Fib/channel mid), $85.21-$85.96 (100-day SMA), $84.79/$82.26 (61.8% Fib). Resistance: $93.50 (immediate major ST resistance June highs), $92.67-$93.22 (near-term 1.618 Fib ext/channel top), $97.00 (June 3 swing high), $98.41-$98.48 (61.8%/78.6% Fib), $100+ (psychological/LT targets). Momentum: RSI 14 (60-70 bullish but overbought threshold), MACD (positive histogram expanding), Stochastic (overbought ~89 possible exhaustion/pullback). Pivot points daily: pivot ~$90.79, R1 ~$92.49-$92.86, R2 ~$94.24, R3 ~$96.31, S1 ~$89.41, S2 ~$87.34, S3 ~$85.96. Outlook: Bullish above key MAs/Fib supports; potential pullback $85-$88 before further gains; overbought signals consolidation risk. NATURAL GAS TECHNICALS. Henry Hub trading near $2.97-$2.98/MMBtu. Price action Sep 7 close $2.976-$2.98. Consolidating tight range. Bullish if support holds; resistance capping upside. Support: $2.87-$2.89 (major near-term 50-day EMA ~$2.88 SuperTrend swing lows), $2.80-$2.82 (secondary 50% Fib), $2.90-$2.93 (dynamic rising trendlines), $2.77-$2.78 (deeper $2.70 targets if $2.87 breaks). Resistance: $3.00-$3.03 (primary psychological/technical double top/supply), $3.05-$3.08 (immediate extension), $3.12-$3.20 (next major $3.03 breakout 78.6% Fib), $3.28-$3.40 (LT resistance declining 200-day MA ~$3.28). Pivot daily: ~$2.96 pivot, ~$2.89-$2.91 supports, ~$3.01-$3.04 resistances. Projections: Bullish $3.14-$3.37 on $3.03 break; Bearish $2.70-$2.62 below $2.87. 52-week range: Low ~$2.48-$2.52, High ~$7.46-$7.83. YTD 2026: Down ~17.7% from ~$3.618 start. Summary: WTI testing $93.50 resistance with bullish structure above key MAs. Overbought RSI/Stochastic suggest near-term consolidation. Support at $92.47 (50% Fib), $91, deeper $86-$87. Upside targets $97-$100. Gas consolidating $2.97 with $3.00 psychological resistance. Support holds $2.87-$2.89 (50-day EMA). Breakout above $3.03 targets $3.20+. YTD down 17.7%.
