Although oil bulls pushed the price of light crude higher after yesterday’s market’s open, their march to the north turned out to be very short-lived. The combination of two resistances stopped them, triggering a pullback and causing a bearish development. What can be the consequences of this price action in the coming days?

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The last session of the previous week took black gold above the major short-term resistance, which stopped the sellers several times in the past. Will this bullish event be enough to push the price of the commodity higher in the coming week?

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Although crude oil increased above several nearest resistances earlier this week, yesterday’s session showed that oil bulls are still weak enough to defend gained levels. This manifestation of weakness caused a test of the support zone based on the barrier of $ 50 and two Fibonacci retracements. Will these levels be strong enough to withstand the selling pressure in the coming week?

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Yesterday there was no trade in US, which is why today's alert will analyze Wednesday's crude oil futures’ performance. What interesting can yesterday's price action tell us about the next move of black gold?

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On Tuesday, oil bulls pushed the commodity higher (crude oil gained 0.57%), but what does it really mean for the price of black gold in the coming days?

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