Oil – Daily Analysis

Yesterday, I mentioned that today should finally give us a momentum reading on oil’s intentions. It did—and the message was anything but boring. The interesting part is that momentum often speaks before price does. A single reading can look harmless in isolation, but when it appears at the right place in the structure, it can become the first clue that the balance between bulls and bears is beginning to shift. So now the question is whether today’s signal was just another short-term disturbance in an already messy market—or the opening note of something much more important. Let’s decipher the message, check how the different technical departments are responding, and evaluate what today’s momentum shift may be preparing oil for next. CANDLES & TA: The 2D frame was indeed the most informative today. Not only did it withstand both bearish and administrative pressure, but it also completed one of the more…