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Oil – Daily Analysis

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Oil moved even closer to the major support level today, and the room for error is shrinking fast. The question now is simple: will buyers finally show up tonight, or are we approaching the point where the roadmap itself needs to be adjusted? In today’s Oil Daily Analysis, we focus on the latest candlestick signals, technical developments, and Elliott Wave structure. But this time, crude will not be judged in isolation. We will compare the signals from CL and Brent with what the oil majors—XOM, COP, and CVX—are telling us. When several parts of the same complex approach important technical levels at the same time, confirmation—or lack of it—can be extremely valuable. Tonight’s price action may therefore tell us whether oil is preparing to defend the bullish structure once again, or whether the market is starting to send a very different message. CANDLES & TA: Today, oil did not provide…

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