On Friday, crude oil increased and approached the November peak, but did this increase change anything in the broader perspective? Is it possible that the non-USD chart of crude oil give us more clues about black gold future moves?

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Although the OPEC and non-OPEC producers agreed to maintain the output cut until the end of 2018 yesterday, the price of crude oil didn’t soar to fresh highs. Instead the commodity closed another day under the previously-broken short-term support/resistance line. Does it mean that the agreement extension was already priced in?

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On Wednesday, crude oil wavered around the major short-term support/resistance line, but finally closed the day below it. What does it mean for black gold?

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The crude oil didn’t do much during yesterday’s session and it’s not doing much in today’s pre-market trading and this means two things. One thing is that the price of black gold remains above the rising, short-term trend channel, and the other thing is that at the same time it remains below the upper border of a medium-term trend channel. What are the implications? In which way is crude oil likely to move next?

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On Monday, crude oil erased Friday increase as the combination of important resistances encouraged oil bears to act. How low could black gold in the coming week?

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