On Wednesday, the black gold extended gains and hit a fresh July high after the EIA weekly report showed a bigger-than-expected decline in crude oil inventories. Additionally, the gasoline and distillate stockpiles fell more-than-expected, encouraging oil bulls to act. Thanks to these positive numbers light crude broke above the nearest resistances and hit a fresh July high. Will we see further rally?

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On Tuesday, crude oil moved higher supported by news that Libya will take part in the meeting of OPEC and non-OPEC producers in Russia later this month. As a result, light crude gained 1.24% and re-tested the strength of the nearest resistances. Will they stop oil bulls in the coming days?

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Although crude oil moved higher earlier today, the key resistance levels continue to hold. What’s next for the commodity?

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On Friday, the black gold tested important resistance, but then pulled back and closed the day below it. Is this the first sign of oil bulls’ weakness?

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On Thursday, crude oil moved higher once again, but the nearest resistances continue to keep gains in check. Will oil bulls be strong enough to break above them?

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Earlier today, crude oil moved higher, which resulted in a comeback to yesterday’s high. Will we see further improvement?

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Although crude oil moved lower after the market’s open, oil bulls pushed the commodity higher, which resulted in a climb above the previously-broken support/resistance line. Will this event trigger further rally in the coming days?

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On Monday, crude oil wavered between small gains and losses slightly below the nearest resistance line. Where will the black gold head next?

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On Friday, oil bears pushed the black gold lower, which resulted in a breakdown under the short-term support. Will we see further deterioration in the coming week?

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Although the black gold moved higher on bullish EIA weekly report, the commodity reversed and declined in the following hours after news from Washington. Will we see further deterioration in the coming week?

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On Wednesday, crude oil moved sharply lower after news that Russia would not support deepening oil production cuts. As a result, light crude reversed and declined to the previously-broken lower border of the declining trend channel. Will this support withstand the selling pressure and encourage oil bulls to act once again?

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Crude oil soared for the first time in 6 weeks and the rally continued on Monday – is it high time for the black gold to end its rally or at least take a breather?

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On Thursday, crude oil wavered between small gains and losses, but finally closed the day slightly higher and gained 0.42%. Will we see higher prices of the black gold in the coming week?

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On Wednesday, the black gold gained 1.13% after encouraging the EIA weekly report. As a result, light crude climbed to the previously-broken lower border of the trend channel, but closed the day below it. Will we see further improvement in the coming days?

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On Tuesday, crude oil gained 1.98% and invalidated the breakdown under the Fibonacci retracement. Is it enough to encourage oil bulls to further action?

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