Oil – Daily Analysis

Oil pushed higher again today, but the next session could become a major decision point for the broader move. The question now is not simply whether oil can extend the rally, but what technical criteria would confirm continuation—and what would instead warn that the advance is starting to fail. 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 define the conditions that would favor either the bullish or bearish scenario and assess whether oil is preparing for another leg higher or approaching a more meaningful reversal. CANDLES & TA: Oil closed today with moderately bullish candles on both the daily and 2D frames, supported by a solid technical backdrop. The weekly candles are also shaping bullish for both Brent and WTI, unless oil drops by roughly 5.4% or more before the close. If the weekly…