On Tuesday, crude oil bounced off the recent lows and came back above $48, but did this increase change the short-term picture of the black gold?

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On Monday, crude oil lost 0.50% and almost touched last week’s low. Will we see a post double bottom rally or further declines?

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Although crude oil moved a bit higher and gained 0.57% on Friday, the commodity is still trading under $48 and well below the 38.2% Fibonacci retracement. What does it mean for the black gold?

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On Thursday, crude oil lost 0.71% and closed the day below $48. How low could the black gold go in the coming week?

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Although the black gold moved sharply lower after the U.S. Energy Information Administration showed another increase in crude oil inventories, the commodity pulled back in the following hours, closing the day above $48. But did this increase change anything in the technical picture of light crude?

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