WTI Light Sweet Crude Oil 4/21/23
For Friday, the 79.55 - 80.22 area can contain buying through next week, below which 76.20 remains a 3 - 5 day target, 71.76 expected over the next 3 - 5 weeks.
Downside Friday, 76.20 can contain selling into next week, once tested 79.55 - 80.22 attainable within 3 - 5 days.
A daily settlement below 76.21 allow the targeted 71.76 by the end of next week, likely contain weekly selling pressures when tested, possibly well into May activity.
Upside Friday, closing above 80.22 signals 83.11 within several days, revised long-term resistance able to contain buying through May, and a meaningful upside continuation point into summer activity.
Downside Friday, 76.20 can contain selling into next week, once tested 79.55 - 80.22 attainable within 3 - 5 days.
A daily settlement below 76.21 allow the targeted 71.76 by the end of next week, likely contain weekly selling pressures when tested, possibly well into May activity.
Upside Friday, closing above 80.22 signals 83.11 within several days, revised long-term resistance able to contain buying through May, and a meaningful upside continuation point into summer activity.
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