WTI Light Sweet Crude Oil, 6/8/23
For Thursday, 72.58 can contain buying early next week, below which 68.16 remains a 3 - 5 day target able to contain selling through the balance of next week.
A daily settlement below 68.16 indicates 62.14 over the following 2 - 3 weeks, where the market can bottom out through summer activity.
Upside Thursday, closing above 72.58 indicates 77.39 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 82.18 long-term resistance within 2 - 3 more weeks.
A daily settlement below 68.16 indicates 62.14 over the following 2 - 3 weeks, where the market can bottom out through summer activity.
Upside Thursday, closing above 72.58 indicates 77.39 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 82.18 long-term resistance within 2 - 3 more weeks.
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