WTI Light Sweet Crude Oil, DAILY Market Analysis 1/19/23

For Thursday, 78.51 can contain selling through the balance of the week, above which 83.08 is attainable over the next 2 - 3 days, where the market can top out through next week - once tested 72.54 attainable within several weeks.

Upside Thursday, a daily settlement above 83.08 signals 87.57 within a full week of activity, where the market encounters longer-term resistance able to contain buying into spring activity.

Downside Thursday, closing below 78.51 shifts momentum negative into next week, 72.54 then likely within 1 - 2 weeks, where the market can bottom out on a weekly basis and if settled below would indicate 67.56 long-term support within another full week of activity.