Although the beginning of Wednesday’s session approached light crude to the early 2018 peaks, oil bears hid their claws and ordered a retreat, giving away the battlefield to their opponents. What does it mean for the price of black gold?

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Tuesday’s session took crude oil almost 2% below Monday’s closing price, which approached black gold to the previously-broken early 2018 peak. Will oil bears seize the opportunity to plunge their opponents and take control of this area, transforming it into a resistance zone?

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Although oil bears pushed the price of black gold lower after yesterday’s market open, their opponents triggered a rebound. This is a repeat of what we already saw several times after April 20. When can we see reliable reversal?

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Friday’s session didn’t bring a breakthrough in the last week's scuffles, but there are some signals on the horizon that favor one side of the market…

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Looking at the daily chart of crude oil we can say that the last days were not very exciting. The price of black gold has fluctuated in a narrow price range and Tuesday's move seems to be the only event worth attention. Who have more arguments on its side to push the commodity more significantly in coming days?

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