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WTI and Brent oil prices test key support levels amid supply concerns near Strait of Hormuz.

Technical Signals
29 Sep 2026
FXEmpire
View Source
Neutral
WTI and Brent oil prices test key support levels amid supply concerns near Strait of Hormuz.

WTI crude oil prices are testing support around the 50-day EMA near $90 after falling from an initial gap up, indicating potential downward pressure if prices drop below this level. Brent crude is consolidating near its 50-day EMA around $96.40 and below $100, influenced by contract rollover and possible increased oil flow through the Strait of Hormuz. Ongoing geopolitical uncertainty involving the US and Iran adds complexity to supply expectations. Despite short-term pressure, longer-term value buyers may find current levels attractive for entry.

Crude oil price movements are the subject, with Pluang market data providing context. As of Sep 29, 2026 19:33 WIB, 97 of 150 priced US stocks on Pluang rose while 48 fell. Notable movers include Plug Power Inc (PLUG) at USD 1.95 with a 1-day change of +4.84%, Gold Fields Limited (GFI) at USD 36.41 up 3.50%, and NIO Inc. (NIO) at USD 3.47 down 3.34%.

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