WTI Light Sweet Crude Oil, 7/19/23
For Wednesday, 76.00 can contain intraday buying pressures, below which 73.19 is attainable intraday, able to contain selling through the balance of the week and the region to settle below for then indicating 68.25 longer-term support within 1 - 2 more weeks.
Upside Wednesday, pushing/opening above 76.00 allows 77.46 - 77.72 intraday, able to contain weekly buying pressures, and below which 68.25 is attainable over the next several weeks.
On the other hand, closing above 77.72 signals 81.85 by the end of next week, able to contain buying into later year and a significant upside continuation region over the same time horizon.
Upside Wednesday, pushing/opening above 76.00 allows 77.46 - 77.72 intraday, able to contain weekly buying pressures, and below which 68.25 is attainable over the next several weeks.
On the other hand, closing above 77.72 signals 81.85 by the end of next week, able to contain buying into later year and a significant upside continuation region over the same time horizon.
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