WTI Light Sweet Crude Oil 4/20/23
For Thursday, the 78.65 - 79.55 area can contain selling through the balance of Q2, above which 88.72 remains a 3 - 5 week objective, the next several months likely to yield 96.53.
On the other hand, a daily settlement below 78.65 signals 76.20 within 3 - 5 days, with a weekly settlement tomorrow below 78.65 then indicating 71.76 over the next 3 - 5 weeks.
Upside Thursday, 83.11 can contain session strength, while closing above 83.11 signals 86.77 within 3 - 5 days, the targeted 88.72 within 2 - 3 weeks, where the market can top out through May activity.
On the other hand, a daily settlement below 78.65 signals 76.20 within 3 - 5 days, with a weekly settlement tomorrow below 78.65 then indicating 71.76 over the next 3 - 5 weeks.
Upside Thursday, 83.11 can contain session strength, while closing above 83.11 signals 86.77 within 3 - 5 days, the targeted 88.72 within 2 - 3 weeks, where the market can top out through May activity.
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