So far oil registered no signal that would warrant a change for the long term forecast.
The short term candle formation is bearish, and oil continues to slowly move downwards.
I already discussed the importance of the weekly closure above $82.72 tomorrow. If oil fails to make about 5.6% in the last trading day of the year, it will form a strong bearish setup and a move lower will have much better chances.
The micro path charted last week remains unchanged. Yesterday oil broke a possible motive wave structure off the lows and the odds of moving downwards are higher.
Previous update:
https://investingangles.com/2022/12/28/oil-daily-update-28-12-2022-wti-commodities-usoil-cl-cl-wti-oilandgas-oil-energy-xle-oott-fintwit/
The mid and long term projected paths and targets remain unchanged, as outlined in the Weekly Analysis on the weekend.
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