On Tuesday, crude oil moved higher and reached a very important resistance zone. Will it manage to stop oil bulls and trigger a reversal in the coming days?

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On Monday, the black gold lost 0.71% as oil investors reacted to the Friday’s Baker Hughes’ report, which showed a further rise in the number of rigs in the U.S. In this environment, light crude slipped under the previously-broken 50% Fibonacci retracement, invalidating the earlier breakout. Will it encourage oil bears to push the commodity below the barrier of $50 in the coming days?

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On Friday, crude oil moved a bit higher and closed another day above the barrier of $50. Is it enough to trigger further improvement?

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On Thursday, the black gold moved higher once again and came back above the barrier of $50 as the bullish EIA report continued to weigh on investors’ sentiment. Will we see higher prices of light crude in the coming week?

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On Wednesday, crude oil moved higher after the U.S. Energy Information Administration reported that crude oil inventories increased less-than-expected in the previous week. Earlier today, the black gold extended gains, climbing above the barrier of $50. How high could the commodity go?

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