WTI Light Sweet Crude Oil, DAILY Market Analysis 11/25/22
For Friday, 76.45 can contain weekly selling pressures, above which 93.76 is likely over the next 2-3 weeks.
Upside Friday, 82.70 can contain session strength, while closing above 82.70 indicates 93.76 within 1-2 weeks, where the market can top out into January, and a meaningful upside continuation point over the same time horizon.
Downside Friday, closing below 76.45 indicates 67.03 within 1-2 weeks, the start of a range of long-term support on the 64.15 able to contain selling through winter activity.
Upside Friday, 82.70 can contain session strength, while closing above 82.70 indicates 93.76 within 1-2 weeks, where the market can top out into January, and a meaningful upside continuation point over the same time horizon.
Downside Friday, closing below 76.45 indicates 67.03 within 1-2 weeks, the start of a range of long-term support on the 64.15 able to contain selling through winter activity.
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