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On Friday, crude oil lost 1.30% after unexpected increase in U.S. oil rig counts. As a result, light crude slipped under $42 and closed the day under the previously-broken 61.8% Fibonacci retracement. What’s next for the commodity?

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On Wednesday, crude oil broke above one declining resistance line and yesterday it broke above the second one. Was the breakout just confirmed and should expect higher prices?

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Yesterday, the Fed announced that it had decided to leave the interest rates unchanged. However, this doesn’t mean that nothing changed. There was something that the Fed said that altered the outlook and in today’s alert we focus on the implications for the crude oil market and we’ll also discuss yesterday’s breakout above the declining resistance line.

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On Tuesday, crude oil lost 1.74% ahead of American Petroleum Institute supply report. In this way, light crude reached the first support area and rebounded slightly. Will we see further improvement and a re-test of recent highs?

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