Oil – Daily Analysis
Today, oil pulled back and even recorded a Bearish Engulfing. Is this the end of the rally, or are there other factors that need to be considered? The report focuses on the technical structure behind the move and the paths that could define oil’s next decisive phase. The key question is whether oil is preparing to confirm a local bottom, resume the mid-term breakdown after a temporary pause, or trigger a larger-frame signal that could change the entire roadmap into the end of July. CANDLES: Today, both WTI and Brent formed bearish daily candles. The caveat is that technical support for a bearish move remains weak, so a strong confirming signal is still needed. Momentum remains bullish, with solid technical support on the larger frames. Oil also continues to approach the next key levels — the 50 and 100 DMA. If WTI closes tomorrow approximately above $78, the weekly frame…
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