WTI Light Sweet Crude Oil 4/27/23
For Thursday, 76.20 can contain buying through the balance of the week, below which 71.76 targeted midterm support is likely over the next 3 - 5 days, where the market can bottom out through May.
A weekly settlement tomorrow below 71.76 would, on the other hand, indicate 68.06 by the end of next week, 62.14 within 3 - 5 weeks.
Upside Thursday, pushing/opening above 76.20 allows 78.27, while closing back above 76.20 signals 80.00 over the following 3 - 5 days, potentially 82.29 long-term resistance within 1 - 2 weeks.
A weekly settlement tomorrow below 71.76 would, on the other hand, indicate 68.06 by the end of next week, 62.14 within 3 - 5 weeks.
Upside Thursday, pushing/opening above 76.20 allows 78.27, while closing back above 76.20 signals 80.00 over the following 3 - 5 days, potentially 82.29 long-term resistance within 1 - 2 weeks.
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