WTI Light Sweet Crude Oil, DAILY Market Analysis 11/3/22

For Thursday, 89.17 can contain selling through next week, above which the 96.60-97.66 area is likely over the next 1-2 weeks. Upside Thursday, 92.59 can contain session strength, while closing today above 92.59 indicates 96.60 within several days, the start of a narrow zone of targeted long-term resistance up to 97.66 that can contain buying through December. Downside Thursday, breaking/opening below 89.17 allows 85.73, while closing below 89.17 should yield 83.01 over the next 3-5 days, and will keep 77.45 in reach over the next several weeks.