#Oil = Weekly Analysis = 07.01.2023 #WTI #commodities #usoil #CL $CL $WTI #oilandgas $oil #fintwit #oott #crudeoil

Almost 5 months ago I spotted Three Black Crows formed by oil on the monthly frame and suggested that a strong bearish move to follow. The hypothesis was greeted with a lot of skepticism which was probably a rather mild term.

Fast forward 5 months and we can see that oil already lost about 17% after the call. The main question right now is whether it stops here or continues further down. The signals last week were very clear.

In this weekly overview we will:
– evaluate technical indicators, candles, and recent events on various frames;
– discuss the long and mid term forecasts made with Elliott Waves.

By the way, since our big call on June 4, 2022 (just before the top), oil lost over 35% by now.

In December, InvestingAngles introduced daily reports on oil and we plan to maintain them among our regular features. Are you with us?

This post is part of the @InvestingAngles Series that covers the US and Global major indices, commodities and miners, bonds and volatility, crypto and currencies, and some large cap stocks.

Premium Content

Read more of this content when you subscribe today.

Natural Gas Yearly Analysis – Dec 31st:
https://investingangles.com/2022/12/31/natgas-yearly-analysis-31-12-2022-naturalgas-commodities-ng-ng-ung-ung-oilandgas-kold-boil/

Join us on Telegram: https://t.me/InvestingAngles

Previous Oil Yearly Analysis – Jan 1st:
https://investingangles.com/2023/01/01/oil-yearly-analysis-01-01-2023-wti-commodities-usoil-cl-cl-wti-oilandgas-oil-energy-fintwit-oott-crudeoil/

%d bloggers like this: