Crude Oil WTI Hits Double-Top Resistance at $93.64

Crude Oil WTI has recently hit a major resistance at $93.64, marking a double-top pattern that could flip the trend from bullish to fragile.

The price had reached a high of $93.03 before slipping back down to $91.97 on the 5-hour chart, with technical indicators warning of overbought conditions.

Bulls are on a tightrope as they face stiff resistance at $93.64, a level that has triggered sharp sell-offs twice before.

A bear scenario becomes highly attractive between $93.00 and $93.64, targeting the double-top pattern with potential targets of $88.88 or lower.