Although crude oil moved lower after the market’s open, the EIA weekly report encouraged oil bulls to act, which resulted in a fresh July peak. How high could the black gold go in the coming days?

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On Tuesday, crude oil extended gains and hit a fresh July high, but will we see further rally in the coming days?

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On Monday, crude oil bounced off the Fibonacci retracement and climbed to the previously-broken 50-day moving average. Will we see a verification of the earlier breakdown or further rally?

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On Friday, crude oil moved sharply lower and tested the first support. Will it withstand the selling pressure and encourage oil bulls to act?

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Although crude oil increased after the market’s open, oil bulls didn’t manage to hold gained levels, which resulted in a pullback and invalidation of the earlier breakout. Will this negative event encourage oil bears to act?

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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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