#Oil = Daily Update = 20.12.2022 #WTI #commodities #usoil #CL $CL $WTI #oilandgas $oil #energy $xle

Oil failed to confirm a Bullish Harami combo in one shot and set the odds close to neutral with slightly higher chances to go down tomorrow, possibly after making a higher high. I outlined a possible path for the next few days – look below in the premium content section.

The commodity faces a challenging task for this week – it needs to close above $82.72 on December 23rd. If is succeeds, a path to higher prices will be opened. If, however, it fails, a major bearish candle setup will be complete, opening a door to much lower prices.

All mid and long term projected paths and targets remain unchanged, as outlined in the weekly analysis on the weekend. Charts below – premium content (subscription required).

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Oil Weekly Analysis – Dec 17:

Natural Gas Daily:

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