WTI Light Sweet Crude Oil, DAILY Market Analysis 12/6/22

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For Tuesday, 83.28 can contain buying into later week, below which 76.50 midterm support is likely again over that time horizon, where the market can place a weekly low, possibly into later December.

Holding above 76.50 allows 91.16 - 92.56 by the end of December, while closing today below 76.50 indicates 65.94 over the same time horizon, the start of a narrowing range of long-term support down to 65.00 able to contain selling through winter activity.

Upside Tuesday , closing above 83.28 indicates 91.16-92.56 within 2-3 weeks, longer-term resistance able to contain buying through winter.

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