From today’s point of view, we can say that half of March sessions was focused on maintaining the barrier of $60. So far, all of the battles were won by oil bulls and the price of black gold rebounded to the first resistance zone. Who, however, will win the war and where will the commodity finish the month?

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The new year, the new month and the new peak – this is how we can summarize in one sentence the first week of January. Last Thursday, crude oil reached the level of $ 62, but the commodity still didn’t move above the May 2015 high. Will we see a breakout and a rally to the barrier of $ 70 in the coming weeks? Or maybe there are some negative signals on the horizon that can be used by oil bears to push black gold lower in the coming weeks?

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Although the overall situation in crude oil hasn’t changed much since black gold hit the November peak (the commodity was trading in a price range smaller than $3!), there are some similarities to the past that can give us a preview of what could happen in the oil market in the coming weeks. Interested? We invite you to check our Oil Investment Update. Have a nice read.

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Developments in the Middle East, escalating tensions between Saudi Arabia and Iran, the upcoming meeting of OPEC and non-OPEC ministers as well as the Baker Hughes reports, crude oil and its products inventories were mainly in the interest of investors. Which of these factors will affect the price of crude oil in the coming weeks? Is it possible that the relationship between crude oil and precious metals will give us clues about the commodity future moves? Let's check our November Oil Investment Update to find out.

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Crude oil closed the previous month above the barrier of $50 for the first time since February, which raised hopes for further improvement. Meanwhile, the commodity reversed and decline, invalidating the earlier breakouts above important resistance lines and levels. What does it man for black gold in broader perspective?

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