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Commodities

Oil – Daily Analysis

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Daily Oil Open Articles Public
639

Oil continues to follow our roadmap. Let’s see if there is anything that requires adjustments. As usual, we will interpret the signals from candlesticks, technicals, and Elliott Waves.

CANDLES

At this point, oil does not show any potential bullish reversal signals. The daily and 3D closures were bearish. If momentum does not change tomorrow, the 5-day closure will likely reconfirm its bearish odds.

Short term: bearish.
Mid and long term: bearish until a weekly reversal is signaled and confirmed.

Classical Pattern – Multiple Flags

The larger red-flag setup remains on the table.

ELLIOTT WAVES

The purple count remains on the table. The blue and red counts have slightly higher probability.

Summary:

Oil remains bearish across all frames until a bullish signal appears.

Happy Trading!

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Daily Oil Open Articles Public
639
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