Oil – Daily Analysis

It’s fascinating to watch how candlesticks reflect market sentiment—and how often they manage to anticipate the next move with surprising accuracy. In today’s Oil Daily Analysis, as usual, we examine the latest candlestick signals, momentum structure, Elliott Wave paths, and key support and resistance levels. We also define the technical conditions that would favor either continued upside or a reversal. The key question now is whether oil is preparing for another leg higher—or whether the top is already behind us. CANDLES & TA: If oil had closed just a few dozen basis points lower today, we would be looking at a strong bearish reversal. Instead, that setup failed—and rather seriously. As a result, momentum on the 3D and larger frames remains firmly bullish. We may still see another bearish attempt to reverse the course, but for now the steering wheel remains in the bulls’ hands. They may get their next…