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Commodities

Oil – Daily Analysis

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Daily Oil Open Articles Public
911

In our daily oil analysis, we use a structured process, reviewing candlestick patterns across multiple time frames, aligning them with Elliott Wave counts, and assessing supporting technical indicators. This framework helps us track short-term swings and long-term trends consistently.

CANDLES

Oil moved up again and printed impressive bullish combos on the 2D and 3D frames. The only miss was a close above yesterday’s high on the daily frame. I hope that’s a false alarm rather than a sign that a reversal is near. If oil bulls clear this and push higher tomorrow, there’s a good chance oil forms a bullish combo on the weekly. Let’s be patient.

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 limited—especially after today’s alert from the candles. The mid- and long-term outlook remains bearish, but the mid-term can flip the odds tomorrow.

Happy Trading!

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Daily Oil Open Articles Public
911
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