Oil – Daily Analysis
Oil extended its pullback today, putting the recent bullish move under its first real technical test. Is this only a healthy consolidation after a strong rally, or is oil starting to lose control of the bullish structure? The answer will not come from headlines, but from the chart. In today’s Oil Daily Analysis, we review the latest candle signals, momentum shifts, Elliott Wave structure, and critical levels to assess whether oil is still resetting for another rally — or beginning to give up the recent bullish momentum. CANDLES: Today, oil continued to draw down on short-term bearish odds. It lost both the 50 and 100 DMA supports in just two days, which is becoming concerning. However, the real momentum test comes tomorrow. It will be a candle parade day, with the 2D, 3D, 5D, 10D, 15D, and several other frames closing. That should provide plenty of technical data and help…
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