Up and down and turn around - in these several words we can summarize the first session of this week.Looking at yesterday's price action, we think that both sides of the market are testing their capabilities before the next bigger move. Will oil bulls stop the sellers in the coming days or vice-versa? We know who has more technical arguments on its side. Do you know that too?

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Although black gold rebounded on Friday, oil bulls didn’t manage to come back above the previously-broken resistance lines. Is this a coincidence? Or maybe their opponents have more technical aces on their side?

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Tuesday's unsuccessful attempt to break above upper borders of the rising trend channels cost oil bulls more than many buyers expected. Their weakness was quickly detected by the rivals, who took control during yesterday's session. The effects of their attack are seen not only on the crude oil charts, because they also affected the pronunciation of our next interesting ratio. Is it possible that the relationship between black gold and the general stock market will give us valuable tips on the future of light crude as it happened many times in the past?

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Although crude oil increased on Tuesday, breaking above upper borders of two rising trend channels, this improvement was very temporary, and the commodity closed the day under both resistance lines, invalidating the earlier breakout. Thanks to this price action something interesting appeared on the daily chart.

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Yesterday's invalidation of the breakdown gathered the harvest after the opening of today's session and resulted in a fresh peak. Will oil bulls finally run out of power? Or maybe they will not rest until they check in at the level of $80?

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