Although oil bulls triggered a move to the upside after yesterday’s market open, they were not strong enough to keep gained levels. This show of weakness encouraged their opponents to act. How did the Tuesday battle end and what could be its consequences?

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The beginning of the week took the price of crude oil lower once again. A fresh multi-week low, a test of medium-term support and a rebound. Quite a lot happened during yesterday's session. However, when the emotions already subsided, the question arises: did yesterday's strong oil bulls' answer to the drop suggest that black gold would back above $ 70 in the following days?

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Although Friday’s session brought a fresh summer low in black gold, oil bulls didn’t give up without fight. As a result, light crude gained 1.23% and came back to the previously-broken resistance line. But did it change anything in the short-term picture?

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On Thursday, crude oil wavered between small gains and losses, but finally finished the day 0.19% below Wednesday’s closing price. Does it mean that oil bears lost their strength and we will see another rebound?

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Wednesday’s session showed how bears can fight if they get the right motivation. What can this lead to in the next days?

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