Oil – Daily Analysis

While much of the market is chasing the next headline or waiting for direction from talking heads, our focus remains where it has consistently delivered value: technicals and statistics. In this report, we examine the latest oil signals, review the key technical levels, and assess the probability map behind oil’s next major move. CANDLES Today, both Brent and WTI were unable to record a clean bearish signal on the daily frame. There was no bullish signal either. With no meaningful momentum readings, oil is neutral short term, possibly signaling close proximity to a bottom. Overall, oil is neutral on the short- and mid-term frames, bearish on the monthly frame, and bullish on all frames larger than monthly. Historical I continue to keep the mid/long term hypothesis that I outlined on May 27: “Does this mean oil is about to go against the 90% historical odds for bullish continuation after the…