On Thursday, crude oil closed another day above the 200-week and 50-day moving averages, but did it change anything in the short-term picture of the commodity?

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Although crude oil declined a bit after yesterday’s market open, oil bulls stopped their rivals and triggered an upswing, which took the price of black gold above the 200-week and 50-day moving averages. Is it enough to take the commodity above the last peaks?

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On Tuesday, crude oil gained over 3% and came back above $52, filling oil bulls with hope for higher prices of black gold. What adversities will the buyer have to overcome before we see the price of light crude higher?

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The last sessions have passed under the dictation of the sellers. Do oil bulls have reason to worry? Are technical factors still on their side?

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Although crude oil pulled back a bit during Friday’s session, the commodity closed another week above the previously-broken long-term line. Are there any other positive technical factors on the horizon that will encourage the buyers to fight for higher prices of black gold in the coming week?

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