On Wednesday, the black gold moved sharply lower after the market’s open weakened by another increase in crude oil inventories. Despite this deterioration, oil bulls pushed the commodity higher in the following hours, which resulted in a 0.64% gain and invalidation of two breakdowns. What does it mean for light crude?

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On Tuesday, crude oil wavered between small gains and losses as uncertainty around a U.S. presidential vote kept investors on the sidelines. As a result, light crude moved slightly higher, but closed the day under the previously-broken 50% Fibonacci retracement. What’s next?

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On Monday, crude oil moved higher and invalidated earlier breakdown under Fibonacci retracement. Will this positive event encourage oil bulls to push the commodity higher in the coming days?

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On Friday, crude oil moved lower as worries over supply glut continued to weigh on the price. In this environment, light crude approached a support zone, which stopped oil bears in Aug and Sep. Will the history repeat itself once again and we see a rebound in the coming week?

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On Thursday, the black gold moved lower as disappointing data on crude oil inventories continued to weigh on the price. As a result, light crude reached the short-term support zone. Will it manage to stop oil bears in the coming week?

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