Although crude oil moved lower after the market’s open on Tuesday, the commodity reversed and rebounded in the following hours. As a result, light crude gained 0.72% and came back above the barrier of $50. Will we see further improvement in the coming days?

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On Monday, crude oil gained 2% as a weaker U.S. dollar and fading Brexit fears continued to weigh on investors’ sentiment. In this environment, light crude extended gains above the previously-broken short-term support line and climbed to the barrier of $50. Will it manage to stop further improvement in the coming days?

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On Friday, crude oil reversed and rebounded sharply as the combination of weaker greenback and fading Brexit fears supported the price. As a result, light crude gained 5% and invalidated earlier breakdown under the short-term support line. Is it enough to encourage oil bulls to act in the coming week?

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On Thursday, crude oil extended losses, which resulted in a drop under the first support zone. Is it enough to trigger further declines?

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Although crude oil moved higher after the EIA weekly report showed that domestic crude oil production dropped by 29,000 barrels per day and crude oil inventories decreased by 0.9 million barrels, the commodity reversed and declined in the following hours, erasing almost all earlier gains. Will we see further deterioration in the coming days?

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