WTI Light Sweet Crude Oil, DAILY Market Analysis 4/18/23
For Tuesday, 83.11 can contain session strength, below which the 78.65 - 79.55 area is attainable over the next several days and able to contain selling through the balance of Q2.
Holding above 79.55 will keep 88.14 in reach as a 2 - 3 week objective, the next several months likely to yield 96.53.
On the other hand, a daily settlement below 78.65 allow 76.21 by Friday’s close, while a weekly settlement Friday below 78.65 should mark a good high into June, 71.76 then anticipated over the next 3 - 5 weeks.
Upside Tuesday, closing above 83.01 signals 85.46 within several days, also able to contain session strength and the level to settle above for yielding the targeted 88.14 within several more days, where the market can top out into May activity.
Holding above 79.55 will keep 88.14 in reach as a 2 - 3 week objective, the next several months likely to yield 96.53.
On the other hand, a daily settlement below 78.65 allow 76.21 by Friday’s close, while a weekly settlement Friday below 78.65 should mark a good high into June, 71.76 then anticipated over the next 3 - 5 weeks.
Upside Tuesday, closing above 83.01 signals 85.46 within several days, also able to contain session strength and the level to settle above for yielding the targeted 88.14 within several more days, where the market can top out into May activity.
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