On Wednesday, black gold moved higher after the EIA weekly report showed a smaller increase than in crude oil inventories compared to what we saw in the API data. As a result, light crude closed another day above the January peak, but will oil bulls manage to hold the price above this level?

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On Tuesday, crude oil lost almost 2% and invalidated the earlier breakout above important resistance line. Is it enough to push black gold below the early 2017 peaks?

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Although crude oil wavered between small gains and losses, “gaining” 0.04% yesterday, oil bears showed their claws and pushed the price of the commodity lower earlier today. What could it mean for light crude?

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On Friday, crude oil lost 0.75% after Baker Hughes report renewed worries over rising U.S. production. Thanks to this news, light crude re-tested the nearest support, but will it stop oil bears in the coming week?

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Yesterday’s price action didn’t change much for the crude oil’s outlook as the implications of the important huge-volume session remain in place. So, what’s likely to be seen in the coming days?

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