WTI Light Sweet Crude Oil, 6/13/23

60
For Tuesday, 68.70 can contain buying into later week, below which 62.14 remains a 2 - 3 week target.

 

Downside, 65.17 able to contain daily selling pressures, while closing below 65.17 indicates 62.14 within 3 - 5 days where the market can bottom out through summer activity.

 

Upside Tuesday, closing back above 68.70 allows 71.94 within 3 - 5 days, able to contain buying through the balance of the week.

 

A settlement above 71.94 indicates 77.56 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 81.44 long-term resistance within 2 - 3 more weeks.

Penafian

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