#Oil = Daily Update = 27.12.2022 #WTI #commodities #usoil #CL $CL $WTI #oilandgas $oil #energy $xle #oott #fintwit

Oil possibly topped and after a small consolidation could fall rather sharply.

The daily candles formed a candle that can turn out to be a Spinning Top / Evening Star. The candle requires a strong confirmation.

The hourly candles are pointing further down and a confirmation of the Spinning Top tomorrow should not come as a surprise.
Note the midday call:

From the weekly perspective, oil failed to close above $82.72 last week and such “achievement” kept the weekly odds bearish. We shall see if this week is successful.

The mid and long term projected paths and targets remain unchanged, as outlined in the Weekly Analysis on the weekend.

Natural Gas Daily – Dec 27th:

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