WTI Light Sweet Crude Oil, DAILY Market Analysis 4/10/23

The 80.17 - 80.95 region can contain monthly buying pressures, possibly into summer activity, below which 71.03 remains 3 - 5 week target, possibly lower into summer trade.

Downside, 71.03 can contain weekly (possibly monthly) selling pressures, while closing below 71.03 indicates 57.44 within 3 - 5 weeks, possibly 53.87 within several months.

Upside, a daily settlement above 80.95 would indicate 88.52 within 2 - 3 weeks, 97.14 within 2 - 3 months, where the broader market can tap out on a seasonal basis, possibly through the balance of the year.

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For Monday, the 80.17 - 80.95 region can contain buying through April, below which 71.03 is likely over the next 3 - 5 weeks, possibly lower into summer activity.

Downside Monday, 78.69 can contain session weakness, while closing below 78.69 signals 74.25 within several days, dropping daily and able to contain selling through the balance of the week.

Upside Monday, pushing/opening above 80.95 allows 83.01, while closing above 80.95 would indicate 88.52 within 2 - 3 weeks, 97.14 within 2 - 3 months.