Thanks to yesterday’s session crude oil lost 3% and approached the previously-broken barrier of $70. In this area oil bears met several other short-term supports, but are they stable enough to stop the sellers in the coming days?

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On Wednesday, bear's determination showed the buyer that the way to the north is not as open as it would appear after the first sessions of this week. Thanks to yesterday's price action, the oil dived over 2% and reached the first support, encouraging bulls to fight for a few points. Is the worst already behind the buyers or is it just an illusion?

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Yesterday, oil bulls extended Monday’s rebound and approached the previously-broken July peak. Does this comeback mean that oil bears have already lost their will to fight for lower prices of crude oil?

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Monday's session started very well for oil bears as the price of black gold dived almost to the level of $73. The next hours of the session, however, were not so pleasant for the sellers, because their rivals decided to fight. What were the consequences and what can we expect in the coming days?

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Although almost nothing changed in the price of black gold on Friday, we noticed that one more negative factor appeared. Will it encourage oil bears to fight for lower values of crude oil in the coming week?

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