Crude oil has been declining slowly, but there are some sings pointing to an increase in the volatility in the coming days. Which way is the black gold likely to move?

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On Thursday, crude oil moved higher once again, but did this increase change anything in the overall picture of the commodity?

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On Wednesday, the black gold moved lower once again after the EIA weekly report showed unexpected build in crude oil and gasoline inventories. Thanks to these bearish numbers, light crude lost 2.77% and closed the day below $47. How did this drop affect the very short-term picture of the commodity?

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Yesterday, crude oil declined and touched the upper part of the support area and the reversal took place on big volume. Is the short-term bottom in? It’s impossible to reply to this question without analyzing the context.

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In yesterday’s alert we wrote that crude oil may have moved a little ahead of itself and a pause here was likely. Crude oil has indeed corrected yesterday and the question now is if the correction is already over and is it safe to get back into the long positions.

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