Crude oil is trading around $89.33, consolidating below the 200-period exponential moving average (EMA) and under downward pressure; we could expect the instrument to trade around $89.00 in the coming days and, above the 8/8 Murray line, around $87.50.

From a technical perspective, a technical rebound in crude oil could be expected, as it has reached oversold levels. If the CL consolidates above $89.68 in the coming hours, we could buy with targets at the upper band of the downtrend channel, around the 21-period simple moving average (SMA) at $93.21.

If the downward momentum prevails, crude will likely reach the Murray 8/8 level, around $87.50.

The Eagle indicator has reached oversold levels and is in the 5-point range, so we could expect crude oil to rebound in the coming days to reach $93.75. Alternatively, if the price breaks above the downtrend channel, it could return to the psychological level of $100.