Since crude oil had found solid support around $79, it rebounded to nearly $83 in just a few hours. Technically, we could expect it to continue rising in the coming days and potentially reach the 6/8 Murray level around $87.50.

A consolidation above the 3/8 Murray level and above the 200 EMA on the H4 chart could be considered an opportunity to continue buying.

We expect crude oil to reach the strong resistance at $82.95—the August 10 high—in the coming days. Once the price breaks through this zone, we could expect it to continue rising to $85.30 and potentially fill the gap it left around $86.35.

If crude oil falls below $81.50, we could expect it to retest the psychological level of $80.00 or test the strong support at $79.35 again.

Given that the trend for crude oil remains bearish, a decisive break above $82.90 could be a positive sign in the coming days. Below $81.90, the outlook remains negative, and a break below $79 is expected to accelerate the downward movement, potentially reaching the 4/8 Murray level around $75.