MCL1! Price Holds Above Key Support as Rebound Toward $93 Looms

The Micro WTI Crude Oil Futures contract (MCL1!) is currently testing its 0.786 Support Arc, according to an analysis of the 1D chart.

According to the Arc Cycle Analysis, the price is holding above this Support Arc, indicating a potential bullish rebound toward $93.

If the Support Arc continues to hold, a rebound toward $93 becomes the preferred scenario. However, if the price sustains a close below $77, it would invalidate the bullish scenario and shift the outlook toward the next Support Arc 1 (100%).