Oil – Daily Analysis
Oil paused today, but what is this pause — an early signal of a reversal, or simply a consolidation before the next move? In today’s Oil Daily Analysis, we examine the latest candlestick signals, momentum structure, Elliott Wave paths, and key support and resistance levels. We also assess the health of the broader trend, and whether the current advance is developing into the larger move our roadmap has been anticipating. CANDLES & TA: Today, oil bounced up and down and, in the end, formed a Doji candle — a clear sign of indecision. However, if we look at the larger timeframes, such as the 5D that closed today, we can see strong bullish continuation. The 8D, which closes tomorrow, is also on track to build bullish momentum, unless there is a panic. Overall, oil remains bullish across all timeframes until we see a signal otherwise. ELLIOTT WAVES Oil made a…
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