Oil – Daily Analysis
Today’s update reads the candles, multi-timeframe signals, and Elliott Wave structure to map the key levels in play—a pivot hiding in plain sight. We outline the highest-probability paths and the trap risk on both sides. The next break—up or down—likely sets the tone into month-end and could run farther than it looks.
CANDLES
After yesterday’s heavy hit, bulls tried to repair the daily and preserve momentum into the 3D closure. The rebound wasn’t convincing: the 3D print leans bearish, and the daily Harami requires confirmation. Given the broad bearish closures yesterday, short-term odds remain bearish—though closer to neutral. Mid- and long-term stay bearish at least through week’s end. The monthly risk of a Bearish Engulfing is close to materializing.
ELLIOTT WAVES
Oil failed to produce an impulsive advance, increasing the odds of a new lower low. The blue count has a slight technical edge here; the red count remains on the table.
Summary:
Oil remains predominantly bearish. The main focus is the monthly closure, which will print the M, 2M, and 4M candles simultaneously—and the setup could be ugly. The last two days of the month could tilt the script toward bulls, but several steps remain.
Happy Trading!
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