On Thursday, crude oil lost 1.44% and invalidated the earlier small breakout above the resistance zone – similarly to what we saw in the previous month. What does it mean for black gold?

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Although the Energy Information Administration showed yesterday that crude oil inventories dropped-more-than-expected, another increase in gasoline supplies caused wavering between small gains and losses. What’s next?

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On Tuesday, black gold moved a bit higher, but is this increase as positive as it might seems at the first sight?

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On Monday, the price of crude oil moved higher after the market’s open supported by worries over the situation in Iraq and rising U.S.-Iran tensions. Despite yesterday’s increase, the commodity pulled back after the EIA report. In this environment, light crude invalidated a small breakout and closed the day below $52. What does it mean for black gold?

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On Friday, crude oil gained 1.68% as the combination of bullish Chinese imports data and increasing tensions in the Middle East pushed the price of the commodity higher. As a result, light crude closed the day above $51, but finished the whole week under the major resistances. Will they manage to stop oil bulls in the coming week?

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Although the EIA showed that crude oil stocks dropped for the third-straight week, the report also showed that gasoline inventories and supplies at Cushing, Oklahoma, increased, making the overall situation a bit unclear. However, the commodity extended losses after the International Agency Energy affected negatively investors’ sentiment. Thanks to these circumstances, light crude lost 1.36% and closed another day under the resistance zone. Will it withstand the buying pressure in the coming week?

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On Wednesday, the price of crude oil moved higher, but the major resistance zone and the key resistance line continue to keep gains in check. Will this fact encourage oil bears to push the commodity lower in the coming days?

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Yesterday, crude oil moved sharply higher, which resulted in a comeback above the previously-broken important support/resistance lines. Did this increase change the medium-term picture of black gold? Will the non-USD charts of crude oil give us valuable clues about future moves?

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On Monday, crude oil wavered between small gains and losses, but finally closed the day just like on Friday. What can we expect in the coming days?

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On Friday, crude oil moved sharply lower and dropped not only below the barrier of $50, but also under previously-broken levels and lines, invalidating the earlier breakouts. In these circumstances, light crude lost 2.95% and confirmed a bearish top formation. What does it mean for black gold?

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Although crude oil gained 1.62% and came back above the previously-broken levels yesterday, the commodity reversed and declined sharply earlier today. How low could black gold go?

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Although black gold moved higher after the EIA showed a sharp decline in crude oil inventories, the price of the commodity reversed and declined on concerns about the heavy increase in crude oil exports. As a result, light crude slipped under the barrier of $50 and closed the day below it, invalidating the earlier breakout. Will we see further deterioration in the coming days?

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On Tuesday, light crude lost 0.32% as Friday news and uncertainty ahead of inventories reports pushed the price of black gold lower. In this environment the commodity re-tested the barrier of $50 and August peaks, but will they withstand the selling pressure in the coming days?

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On Monday, crude oil lost 2.11% after investors digested Friday’s news (the Baker Hughes report and higher OPEC output). Thanks to these circumstances, light crude slipped to the barrier of $50 and tested August peaks. Will we see a verification of the earlier breakout above them or further declines in the coming week?

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Although the price of black gold increased a bit on Friday, the commodity closed the whole week below important resistance lines and invalidated earlier breakouts. What does it mean for crude oil?

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