On Wednesday, crude oil bounced off the Tuesday’s low after the Energy Information Administration report showed that U.S. crude oil inventories dropped more-than-expected. Thanks to this news, light crude gained 0.12% and tested the barrier of $50. Will it manage to stop oil bulls in the coming days?

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Although crude oil moved a bit higher on Tuesday, the barrier of $50 continues to keep gains in check. What’s next for the black gold?

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On Monday, light crude extended losses after oil investors reacted to bearish Friday’s Baker Hughes’ report, which showed that U.S. drillers added oil rigs for a 14th week in a row. In these circumstances, the black gold lost 0.79% and slipped to the 200-day moving average. Will this support manage to stop oil bears in the coming day?

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On Friday, crude oil lost 2.15% and declined under the barrier of $50. Does it mean that the way to lower prices is open?

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On Thursday, the black gold lost 0.28% as disappointing inventory data continued to weigh on the price. As a result, light crude verified the earlier breakdown under the 50-day moving average and tested Wednesday’s low. What’s next for the commodity?

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