WTI Light Sweet Crude Oil 4/25/23

For Tuesday, 80.11 can contain weekly buying pressures, below which 76.20 remains a 3-5 day target able to contain selling through the balance of the week. A daily settlement below 76.20 signals a good weekly high, the targeted 71.76 then expected by the end of next week, where the market can bottom out through May and a meaningful downside continuation point over the same time horizon. Upside Tuesday, closing above 80.11 signals 82.29 within several days, long-term resistance able to contain buying into summer, and below which 71.76 remains a 3- 5 week objective. Inversely, a weekly settlement above 82.29 would indicate 95.91 over the following 2-3 months.