WTI Weekly Analysis

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The targeted 92.00 - 93.00 long-term resistance area remains able to contain annual buying pressures, and from here the market could fall back into summer trade.

Upside, a weekly settlement above 94.00 (1% beyond 93.00) would indicate 100.00 followed by 115.00 within several months, also able to contain annual buying pressures.

Downside, a weekly settlement back below 88.00 (1% beyond 89.00) should mark a good Q1 high, 82.00 then likely within several weeks, 67.00 - 63.00 attainable over the following several months.

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