WTI Light Sweet Crude Oil, 5/17/23

93
For Wednesday, both 72.18 and 69.84 can firmly contain intraday activity, beyond which the next notable level is expected intraday.

 

Upside, pushing/opening above 72.18 signals 73.16, able to contain weekly buying pressures, once tested 68.77 attainable within a full week of activity, possibly yielding 62.14 within 3 - 5 weeks.

 

On the other hand, a daily settlement above 73.16 indicates 82.97 within 2 - 3 weeks, the start of a range of long-term resistance up to 84.41 able to contain buying into later summer.

 

Downside Wednesday, breaking/opening below 69.84 signals 68.77, able to contain selling through the balance of the week, and the level to settle below for then indicating 62.14 within 2 - 3 weeks.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.