investingangles.com
Oil – Monthly Analysis = #oil $oil $brent $WTI #WTI #crude #BRENT $USOIL #OPEC #elliottwave
Oil has pulled back about 3.5% since the previous Friday. Is this merely a tactical retreat, or is the “Hormuz is open” mantra finally taking hold? How have the recent moves affected the monthly and larger timeframes? And are we still on track for “lower gas prices”? In this monthly Oil Technical Analysis, we step back from the headlines and focus on the signals that matter most: technical structure, candle patterns, statistical evidence, key timeframes, and the most probable scenarios for WTI and Brent, and recent signals by XOM, CVX, and COP.