Fundamental analysis of WTI

WTI crude oil is hovering around 77.30 USD per barrel, rebounding slightly from the three-month low reached during the Asian trading session on Wednesday.
This comes amid attempts by the US dollar to regain ground lost in the previous week. Despite this modest recovery, WTI is being pressured by reports of rising US crude inventories and mixed signals from the Chinese economy, limiting any upside from OPEC's planned production cuts. Industry data showed an unexpected rise in US crude inventories, with the American Petroleum Institute reporting an increase of nearly 12 million barrels. In addition to the increase in inventories, the Energy Information Administration's statement on curbing US oil production growth and downward revision of consumption forecasts from an increase to a decrease of 300,000 barrels per day are expected to dampen demand. 
OPEC's export surge, driven by weakening seasonal demand in the Middle East, was up 1 million barrels a day from its August low. At the same time, mixed data from China showed a surge in oil imports amid a decline in total exports, raising concerns about future global energy demand. 
The delay in the release of the weekly EIA report is consistent with the possibility of a calmer supply situation, given factors such as increased production in Venezuela due to the easing of sanctions. In addition, the return of the US dollar could add to the complexity, making oil more expensive for holders of other currencies and reducing demand. Despite these bearish trends, OPEC's optimism about global growth and demand, as well as the Chinese central bank governor's confidence in meeting GDP targets, provide some cause for optimism. These factors could support a recovery in demand, especially from China, the largest oil importer, and dampen negative market sentiment.
The overall picture emerging from these developments indicates that the oil market will take a cautious stance in the near future. Optimists in the oil market may find little reason to cheer, pointing to a gloomy outlook for oil prices in the near term as US inventories rise, demand forecasts are adjusted and the dollar strengthens.
Technical analysis and scenarios:

The Bollinger Bands show an extended price range with the indicator pointing downwards, indicating increased market volatility and bearish momentum. As the price is currently rising but still within the lower range of the Bollinger Bands, this suggests that the market is in a downtrend.
Main scenario (SELL)
Recommended entry level : 76.00
Take Profit: 75.00.
Stop Loss: 76.50.
Alternative scenario (BUY)
Recommended entry level: 78.50.
Take Profit: 79.80.
Stop loss: 78.00.