WTI Light Sweet Crude Oil, DAILY Market Analysis 10/27/22

For Thursday, 84.47 can contain session weakness, 89.87 in reach and able to contain buying through next week, once tested the market susceptible to falling back to 77.94 within 2-3 weeks. On the other hand, closing today above 89.87 indicates the more meaningful 97.29 - 98.96 area within 1-2 more weeks. Downside Thursday, closing below 82.07 signals 82.07 tomorrow, also able to contain session weakness and the level to settle below for indicating 77.94 longer-term support within 2-3 days, where the market can bottom out through November, and above which the 97.29 - 98.96 region is attainable over that time horizon.