WTI softens as China ramps up Covid control in major cities. The rally above the psychological level of 90.00 has briefly lifted the optimism. But the origin (93.50) of the late August sell-off is a tough level to crack. The bulls are looking to consolidate their gains and 87.00 off the recent bullish breakout is the first area to gauge the strength of follow-up demand. If the bid gets hit, more profit-taking would follow and a correction may push the price towards 84.00 in the congestion area that sits over the 30-day moving average.
