Technicals: Week 40

Tuesday, October 6, 2026 - LIVE TECHNICAL ANALYSIS. WTI CRUDE: Trading low $90s ($88-$91, four-week low pressure). Support: $84.50-$85 (50% Fib + 100-day SMA confluence - pivotal), $87.35 (near-term floor), $88.20 (swing), $82 (deeper), $80.73 (61.8% Fib). Resistance: $91.16 (near-term), $93.70 (initial), $94.13 (23.6% Fib), $95.91 (strong), $96.35 (next), $98.50 (further), $102.40 (cycle high). Pivot ~$90 flat. Critical inflection $88-$89. Indicators: RSI 37-47 (oversold), MACD negative -0.37 (bearish), MAs sell signals. Bias bearish consolidating short-term. Bullish hold $84.50 target $91-$94.13 → $96.35 → $98.50 → $102.40. Bearish fail $87.35 or $82 breakdown → $80.73 lower. BRENT CRUDE: Trading $99-$100 (consolidation after testing higher). Support: $98.54 (first), $95-$98 (trendline/channel), $87-$90 (deeper), 200-day EMA (anchor). MAs: 50-day $97-$99 (dynamic), 10/20/30-day $101-$104 (above price). Resistance: $101.73 (first), $103-$105 (psychological), $107-$110 (Fib/swings), $113-$114 (longer-term). Indicators: RSI 36-54 (mixed), MACD -0.32 to +1.31 (mixed), MAs bullish (price above multiple). Bias bullish consolidation testing support, hammer formation, regaining momentum. Bullish hold $100-$101.73 target $103-$105 → $107-$110. Bearish fail $98.54 → $95-$97 → $92-$93 (trendline/38.2% Fib major break) → $90-$87-$89. Spread maintained >$11 (maritime premium). NATURAL GAS: Henry Hub spot Oct 5 $3.07/MMBtu (+1.22%), range $3.00-$3.08. Nov futures $3.076 (Oct 4 $3.015, Oct 2 $3.035). Curve Nov $3.06, Dec $3.35, Jan 2027 $3.73. Setup above $3.05 target $3.20-$3.30; below $2.95 test $2.85; hold $2.80 baseline. 52-week range $2.48-$7.83 (mid-range current). SUMMARY: WTI consolidating bearish short-term, critical $88-$89 inflection, support $84.50-$85 strong confluence. Brent solid $100+, bullish consolidation, hold $100-$101.73 target $103-$105. Gas steady $3.00. Bias: Bearish WTI, bullish Brent, neutral gas. Chart levels paramount. Capital preservation.