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Commodities

Oil – Daily Analysis

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Oil Open Articles Public Weekly
631

This update focuses on method, not direction. We’ll read the daily/2D/weekly candles and combos, check trend alignment (8/20/50/100/200 MA), and review momentum via MACD and RSI. Key levels come from prior swing highs/lows and moving-average supports; Elliott Wave remains a secondary lens for structure confirmation rather than a signal on its own.

CANDLES

Today, oil rejected the bulls’ chances on the daily frame and moved lower, forming bearish continuation candles on the daily and 5D frames. Not much else to say.

Short term: bearish
Mid term: bearish
Long term: bearish

ELLIOTT WAVES

Last Wave
No changes on charts – just refreshed them.

Micro Wave

Classical Patterns – Flags

Summary:

Oil remains bearish across all frames until a confirmed weekly signal turns the table.

Short term: bearish
Mid term: bearish
Long term: bearish

Happy Trading!

Oil Open Articles Public Weekly
631
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