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Commodities

Oil – Daily Analysis

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Daily Oil Open Articles Public
874

In our daily oil analysis, we apply a structured approach—examining candlestick formations across multiple time frames, aligning them with Elliott Wave counts, and weighing supporting technical indicators. This methodology helps us track both short-term swings and long-term trends with consistency.

CANDLES

Following a Tower Top, oil pushed higher today. The short-term odds remain bullish, and tomorrow is a key day. Oil could confirm bullish momentum on the 2D and 3D frames simultaneously. If that happens, the odds of a bullish weekly signal will increase.

Short term: bullish, limited.
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

There is no primary count at the moment. All three counts on the chart have approximately equal odds.

Summary:

Oil is short-term bullish, though this move is likely to be limited. The mid- and long-term outlook remains bearish.

Happy Trading!

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Daily Oil Open Articles Public
874
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