WTI Light Sweet Crude Oil, DAILY Market Analysis 11/2/22

For Wednesday, 89.31 can contain buying through next week, below which the market remains susceptible to falling back to 77.45 over the next 2-3 weeks. Downside Wednesday, 85.07 can contain session weakness, while closing below 85.07 signals 77.45 longer-term support by the end of next week, where the market can bottom out through November, and above which the 96.74-97.66 region is attainable over that time horizon. Upside Wednesday, a settlement above 89.31 indicates the 96.74 - 97.66 area within 1-2 more weeks, able to contain buying through December.