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Commodities

Oil – Daily Analysis

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Daily Oil Open Articles Public
838

In this update, we take a fresh look at oil’s setup, analyzing candlestick patterns, multi-timeframe signals, and Elliott Wave structures to pinpoint the key levels and technical formations shaping its trajectory. We’ll also outline the most probable scenarios for the next major move—because if this is the real deal, missing it could be costly, and if it’s not, the downside could be just as punishing.

CANDLES

After a weekly bearish close, oil attempted a recovery, but it was weak. The daily printed a Thrusting Line—tilting odds toward another leg down—and the 2D frame formed a Dark Cloud Cover, which is decidedly not bullish. The 3D frame is tracking for a bearish close tomorrow.

For now, the short-term stance remains bearish, albeit closer to neutral, and the overall outlook stays bearish until a clear, decisive reversal signal emerges.

ELLIOTT WAVES

The purple count remains the primary scenario for now.

The larger Flag pattern remains intact.

Summary:

Oil is neutral-bearish short-term, and remains bearish across all larger timeframes.

Happy Trading!

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Daily Oil Open Articles Public
838
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