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Commodities

Oil – Daily Analysis

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Daily Oil Open Articles Public
932

In this update, we take a clear, neutral look at oil’s current setup using our comprehensive approach—combining candlestick analysis, multi-timeframe technical signals, and Elliott Wave structures. We’ll outline the key patterns, levels, and scenarios to watch as the market develops, helping you see where the next moves might take shape.

CANDLES

Oil continued to build bearish momentum today, posting a daily bearish continuation and a Bearish Engulfing on the 2D frame. The upcoming weekly closure in three days is looking increasingly concerning at this point. Overall, the commodity remains firmly bearish for now.

ELLIOTT WAVES
(no changes in this section, just refreshed the charts)

Most likely, the abc wave for wave 2 or (b) has completed. The current move downward looks impulsive and could mark the start of either wave (c) or wave 3. So far, the blue count aligns better with the structure, but this wave still needs to mature and provide more data before we can refine the road map further.

Summary:

Oil remains bearish across all time frames until a clear reversal signal appears.

Happy Trading!

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Daily Oil Open Articles Public
932
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