In today’s oil analysis (Friday, 6 November 2026), we continue tracking West Texas Intermediate crude (WTI) on the 1-hour timeframe, following up on our previous analysis that hit and exceeded its target. Oil is currently trading near $90.89 after bouncing off a strong support zone, heading toward new upside targets.
📌 At the time of this analysis, the price of oil was $90.89.
📊 Levels Map
▲ Bullish scenario
Bullish: holding above 88 and bouncing supports the move toward 95.7 then 100.8.
▼ Invalidation scenario
Invalidation: a break and close below 86 cancels the rebound scenario and opens a deeper decline.
Our previous analysis hit and exceeded its target
In our previous oil analysis, we flagged a reversal from the resistance zone near 104 toward 95.7 support. That played out; price even exceeded the target, falling to the strong demand zone near $86, from which it bounced, confirming the accuracy of the technical read.
Oil at a glance
- Current price: around $90.89 (+0.08%).
- Support zone (demand): $88 – $86.
- Resistance: 95.7, then 100.8, 103.4, and 104.6.
- Trend: bullish bounce off the demand zone.
Key technical levels
| Level | Value (USD/barrel) | Significance |
|---|---|---|
| Upper resistance | 104.575 | Recent range top |
| Resistance | 103.393 | Obstacle to the upside |
| Resistance | 100.827 | Major upside target |
| Near resistance | 95.747 | First upside target |
| Current price | 90.894 | Current trading zone |
| First support | 88.000 | Start of the demand zone |
| Major support | 86.000 | Demand zone bottom and bounce point |
The technical scenario
After bouncing off the 86 – 88 demand zone, the technical scenario points to a possible continued rise toward resistance at 95.7, then a push toward 100.8 if it breaks.
Factors affecting oil
Oil remains sensitive to supply-and-demand factors (OPEC+ decisions and U.S. inventory data), along with the dollar’s moves after the midterm elections and geopolitical risk that can move prices sharply in either direction.
Bottom line
Today’s oil analysis confirms the previous read; price reached and exceeded the downside target, then bounced off 86. The bullish scenario stays favored toward 95.7 then 100.8 as long as it holds the 86 support. Watching price’s reaction at 95.7 remains the priority.
Frequently asked questions
WTI crude is trading today near $90.89 per barrel after bouncing off the demand zone near $86.
The upside targets are at 95.7 then 100.8, provided support at 86 holds.
A break and close below $86 cancels the rebound scenario and opens a deeper decline.
This content is for educational and informational purposes only and is not investment advice. Trading oil and currencies involves risk; make your decisions based on your own circumstances and consult a professional if needed.
