Crude oil prices experienced a significant rebound after initially falling to a low of $90.12 earlier in the day. The decline found support just above the 100-hour moving average at $90.10, allowing buyers to step back in and push prices up to $93.23, marking a gain of $1.08 for the day. This recovery has also led to prices moving above the 200-hour moving average at $92.48, indicating a bullish shift in the market. The next upside target is the 38.2% retracement level of the decline from the April high at $93.74. Should prices break above this level, traders will likely focus on the highs from May 26 and June 1, which are near $94.71. If momentum continues beyond this resistance zone, attention will shift to the 50% midpoint of the broader decline at $98.30. As long as crude oil remains above the 100-hour and 200-hour moving averages, the near-term outlook appears favorable for buyers, maintaining pressure on sellers and providing a platform for further price recovery.