On Wednesday, crude oil gained over 2% and climbed to the last week highs. Will oil bulls manage to push the pair higher?

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Although crude oil declined after the market’s open, oil bulls triggered a reversal and rebound. As a result, light crude gained 0.33% and increased to the previously-broken resistance area. Will we see further improvement in the coming days?

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On Monday, black gold moved little higher as Hurricane Irma weakened and eased worries over energy demand in U.S. As a result, light crude came back above the 50-day moving average, but did this increase manage to change the short-term picture of the commodity?

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On Friday, crude oil moved sharply lower and lost over 3% after investors digested the EIA report and reacted to the increase in crude oil inventories. Thanks to these circumstances, light crude invalidated the earlier breakout above the resistance area and slipped well below $48. What does it mean for the commodity?

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On Thursday, crude oil wavered between small gains and losses, but finally closed the day 0.14% lower. Will oil bears come back to the market in the coming week?

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