Crude oil’s Friday’s huge daily decline was not followed by yet another daily slide, but by a profound reversal. The price has surely turned by 180 degrees, but can we say the same thing about the outlook for the following days?

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In our previous Oil Trading Alerts, we wrote how bearish the outlook for the black gold was and we emphasized that it might have been better to be a day or two too early with opening a short position than to be just an hour or two late. Friday’s session showed why this was indeed the case. Crude oil took a dive and erased the entire week of gains in just a few hours. Those, who followed our suggestion to get back on the short side of the market on June 13th are already sitting on a profitable position. However, what’s done is done and the key question is that the decline is already over or are we going to see even lower crude oil prices in the near future. We provide details in today's Oil Trading Alert.

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In yesterday’s Oil Trading Alert, we explained why the black gold might have not done rallying yet and why another daily upswing seemed to be on the cards. And it happened. Crude oil moved to the target that we outlined, broke it by 6 cents and then declined. What’s next? Is the sideways trading definitely over?

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In yesterday’s Oil Trading Alert, we explained what conditions had to be met in order to create a good trading opportunity and we described how to prepare for it in advance. And since we saw the trigger later that day, the position was automatically opened. What’s next? Is the sideways trading definitely over?

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