Crude oil is trading around $90.79, reaching the 61.8% Fibonacci retracement level drawn from this week's low to its high of $93.80.

Crude oil is likely to continue rising in the coming hours until it reaches the resistance level around $96.00.

If crude oil falls below the psychological level of $90, we could expect it to continue falling until it reaches the 161.8% Fibonacci level around $85.93.

If USD/OIL pulls back toward the 21SMA ($92.87) in the coming hours and fails to consolidate above this zone, we could look to sell again, with targets at $88 and even around the 7/8 Murray level at $87.50.

A consolidation above $93 could be bullish for crude oil, so we could buy with targets at the 200 EMA around $95.20. Ultimately, we expect it to close the gap around $96.

A decisive break of the downtrend channel could take crude back toward the psychological $100 level around the 8/8 Murray line.

The Eagle indicator has reached oversold levels. Therefore, crude will likely continue its rise in the coming days, hence we will look for opportunities to continue buying.