Oil – Daily Analysis

So far, oil has followed the roadmap we outlined more than a month ago. In today’s Oil Daily Analysis, we examine the latest candlestick signals, momentum structure, Elliott Wave paths, and key support and resistance levels. The focus is on the current technical setup and the signals that could shape the next major move. We will assess the strength of the recent development, the condition of the broader trend, and the key confirmation levels that may help determine whether oil continues higher, consolidates, or enters another corrective phase. CANDLES & TA: Today, oil delivered an impressive confirmation of a Bullish Harami, signaling higher prices ahead. Among the significant developments were the weekly 8/20 EMA bullish cross and the 50/200 WMA golden cross in Brent. If momentum holds, WTI is very likely to follow with its own 50/200 WMA crossover next week. Overall, oil remains bullish until signaled otherwise. ELLIOTT WAVES…