On Tuesday, crude oil lost 1.37%, which resulted in a comeback under the 200-day moving average. Will this event trigger further deterioration in the coming days?

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On Monday, crude oil lost 0.81% 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 closed another day under the 38.2% Fibonacci retracement. Will it test the recent lows in the coming week?

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On Friday, crude oil wavered between small gains and losses as uncertainty around the U.S. rig count data weighed on investors’ sentiment. As a result, light crude gained 0.14%, but closed the day under the Fibonacci resistance. What’s next?

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On Thursday, crude oil moved higher and climbed to the barrier of $50. Despite this improvement, oil bulls didn’t manage to hold this level, which resulted in a reversal and invalidation of the breakout above the 38.2% Fibonacci retracement. What does it mean for the black gold?

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On Wednesday, crude oil gained 2.39% after a better-than-expected Energy Information Administration report, which showed that crude oil and fuel inventories declined. In this environment, light crude came back above the 200-day moving average and closed the day above it. Does it mean that declines are over?

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