Crude oil is trading around $100.86, above the psychological $100 level and above the 21-period simple moving average (SMA), which in turn is above the 8/8 Murray line. The chart shows signs of exhaustion in the upward momentum, but the price could continue its rise in the coming days if it consolidates above this zone.

After gapping up around $102.69—a gap that has not yet been filled—crude oil could face downward pressure in the coming hours. If it consolidates below $100, we could see a sharp technical correction in the coming days, which could extend as far as the 200-day exponential moving average (EMA), around $93.56.

If oil rebounds above $100, this could be considered a buying opportunity while waiting for the gap left at $102.69 to be filled; it could even continue rising to reach the Murray +1/8 level, around $106.25.

A decisive break below the uptrend channel formed since early October could change the outlook for crude oil, potentially triggering a bearish phase and even pushing prices down to the psychological $90 level.

The Eagle indicator has reached overbought levels. From a technical standpoint, we believe a sharp drop in crude oil prices could occur in the coming days.

Therefore, we must closely monitor price movements. If the price falls below $100, it will be considered a negative signal to sell.