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Commodities

Oil – Daily Analysis

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Daily Oil Open Articles Public
1052

For those anticipating a strong rebound in oil today, the signals may suggest a more cautious approach. In this update, we take a closer look at oil’s setup—candlestick patterns, multi-timeframe signals, and Elliott Wave structures—to highlight the key levels and formations now in play. We’ll also explore the most likely scenarios for the next major move, because whether it breaks higher or lower, the implications could be significant.

CANDLES

The daily, 3D, 5D, and 15D frames all closed today with bearish candles of varying intensity. The outlook remains bearish until a clear and decisive reversal signal takes shape.

ELLIOTT WAVES

The purple count remains the primary scenario for now.

The larger Flag pattern remains intact.

Summary:

Oil remains bearish across all timeframes.

Happy Trading!

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Daily Oil Open Articles Public
1052
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