Oil – Weekly Analysis
Hormuz tolls, Strategic Petroleum Reserve drawdowns, political headlines, and daily noise may dominate the discussion, but our focus remains where it has always been: the technicals. In this weekly report, we step back from the headlines and review the latest oil signals, the statistical studies behind the current setup, and the scenarios most likely to shape oil’s next decisive move. CANDLES and TA Oil has decided. It resolved last week’s combo to the downside and broke through several important support levels. The daily frame lost the 100 DMA, and both Brent and WTI are bearish until signaled otherwise. We should remember that oil closed May with Bearish Engulfing candles, while the larger frames remained bullish. So far, the 3M and 6M frames are still bullish. However, if oil continues lower at this pace, the chances of forming a Dark Cloud Cover on the quarterly frame will increase. The 6M frame…
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