#Oil = Daily Update = 28.12.2022 #WTI #commodities #usoil #CL $CL $WTI #oilandgas $oil #energy $xle #oott #fintwit

Yesterday and today oil made enough bearish moves in order to return to the long term path that was outlined almost four months ago.

While the daily candle did not close low enough to warrant a full bearish reversal, the commodity is on the right path (for bears). You can also review the significance of weekly closure above $82.72 at the link below.

The micro path charted 8 days ago remains unchanged.

Oil has broken a possible motive wave structure off the lows and has much better chances to continue downwards tomorrow.

Previous update:
https://investingangles.com/2022/12/27/oil-daily-update-27-12-2022-wti-commodities-usoil-cl-cl-wti-oilandgas-oil-energy-xle-oott/

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

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