On Tuesday, crude oil reversed and rebounded as a weaker greenback and news from Norway (which showed that even 7,500 workers in the oil and gas industry could go on strike on Saturday) supported the price of the commodity. Thanks to these circumstances, light crude gained 3.22% and invalidated earlier breakdown under the 50-day moving average. Is it enough to push the black gold higher?

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On Monday, crude oil extended Friday’s losses as a broadly stronger dollar made crude oil more expensive for buyers holding other currencies. In this environment, light crude lost 2% and declined to the key short-term support once again. Will it manage to stop oil bears in the coming days?

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On Friday, crude oil declined sharply after news from Britain showed that the U.K. voted to leave the European Union in a historic referendum. As a result, light crude lost over 5% and dropped to the support zone, which stopped oil bears in mid-Jun. Will it withstand the selling pressure in the coming days?

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Based on yesterday’s price action, we could write that the overall situation in crude oil hasn’t changed much as the commodity bounced off the support line and came back above the barrier of $50. Nevertheless, the Brexit vote shook the markets earlier today. Will it also change the picture of crude oil in the coming days?

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Although crude oil moved higher after the market’s open, a bearish EIA report triggered a sharp decline, which resulted in a 2.39% loss. As a result, light crude declined under the barrier of $50 and reached the short-term support/resistance line. What does it mean for the commodity?

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