After a strong Monday blow from the bears, oil bulls recovered during Thursday's session and wiped out the last drop, taking black gold to levels that we could observe at the end of last week. Is this just a one-day strong upheaval or the first omen of upcoming changes in the oil market?

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Despite the fact that oil bears once again managed to push the price of black gold lower, the sellers have reached a very important support zone, which may decide the fate of oil this week. What are the scenarios?

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After a moment of breath that we could observe during Wednesday’s session, oil bulls again got into trouble. Their lack of strength in the fight against rivals led to a fresh low and a comeback below the long-term support line. Can it be even worse?

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On Wednesday, oil bulls closed their ranks and moved northwards at the very beginning of the session. The following hours passed and the march to higher levels continued. Finally, the day ended more than 3% above Tuesday's closure, but can we treat yesterday’s upswing as a success?

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On Tuesday, crude oil moved sharply lower and broke below several important supports. Is realization of the pro-declining scenario enough to satisfy the bears? Or maybe fresh lows are still ahead of us?

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