WTI Light Sweet Crude Oil, DAILY Market Analysis 4/14/23
For Friday, 83.01 can contain intraday strength, below which the 80.17 - 80.70 area is attainable intraday and able to contain selling through the balance of Q2.
Holding above 80.70 will keep 88.27 in reach over the next several weeks, the next several months likely to yield 97.14.
On the other hand, a weekly settlement today below 80.70 will keep the market prone to falling back to 71.76 over the next 3 - 5 weeks.
Upside Friday, pushing/opening above 83.01 allows 85.46, likely contain session strength.
Closing today above 85.46 indicates the targeted 88.27 within several more days, where the market can top out into May activity and the point to settle above for yielding the 97.14 longer-term objective within 3 - 5 more weeks.
Holding above 80.70 will keep 88.27 in reach over the next several weeks, the next several months likely to yield 97.14.
On the other hand, a weekly settlement today below 80.70 will keep the market prone to falling back to 71.76 over the next 3 - 5 weeks.
Upside Friday, pushing/opening above 83.01 allows 85.46, likely contain session strength.
Closing today above 85.46 indicates the targeted 88.27 within several more days, where the market can top out into May activity and the point to settle above for yielding the 97.14 longer-term objective within 3 - 5 more weeks.
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