輕原油期貨

WTI Light Sweet Crude Oil, 5/24/23

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For Wednesday, 71.00 can contain selling through the balance of May, above which 74.58 remains a 3 - 5 day target, the next 3 - 5 weeks allowing 83.67 long-term resistance.

 

Upside Wednesday, 73.41 can contain intraday strength, beyond which 74.58 is likely and able to contain session strength.

 

A settlement today above 74.58 signals 77.35 within several more days, able to contain buying into later next week and the point to settle above for then yielding the more meaningful 83.67 within 2 - 3 more weeks.

 

Downside Wednesday, closing below 71.00 signals 70.02 tomorrow, where the market can place a weekly low and the point to settle below for indicating 62.14 within 3 - 5 more weeks.

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