Oil – Daily Analysis

WTI moved lower again today, putting pressure on the roadmap that has guided us remarkably well for almost two months. But before we start redrawing the chart, it is worth taking a closer look beneath the surface. One weak move does not necessarily invalidate the larger structure. 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 a continuation of the broader upside path or a deeper reversal. The key question is becoming increasingly important: is oil simply completing a deeper wave iv before launching wave v—or has the recent top already marked something more significant? CANDLES & TA: Today, oil moved deeper and further increased bearish momentum. The 1D–3D frames are now bearish, increasing the odds of a weekly bearish reversal. At the same time,…