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:
https://investingangles.com/2022/12/17/oil-weekly-analysis-17-12-2022-wti-commodities-usoil-cl-cl-wti-oilandgas-oil-energy
Natural Gas Daily:
https://investingangles.com/2022/12/19/natgas-quick-update-19-12-2022-naturalgas-commodities-ng-ng-ung-ung-energy-oilandgas/
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