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