#Oil = Weekly Analysis + Long Term Forecast = 10.09.2022 #WTI #energy #commodities #usoil #CL1! @markets @cnbc @marketwatch @ft @seekingalpha #oilandgas $oil

Despite the rally in the last two days, oil was not able to close the week with bullish odds. The Double Top pattern called on August 1st remains in effect and today we will discuss the perspectives from different angles.

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In the middle of August I outlined that OIL “…is technically in the same conditions as in August 2008. Believe it or not, but the commodity is likely to go down. Swiftly.”

In this overview I will traditionally discuss the candle formations on various time frames, evaluate the corresponding technical events from the statistical perspective and provide the short- and long-term forecasts using Elliott Waves.

This post is part of the @InvestingAngles Series that covers the US and global major indices; commodities and miners, bonds and volatility, crypto and currencies, and some large cap stocks.

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