On Tuesday, crude oil lost 4.07% as a bearish report released by International Energy Agency weighed on investors’ sentiment. As a result, light crude dropped below the lower border of the consolidation and closed the day under the barrier of $30 for the first time since Nov 2003. How low could the commodity go in the coming days?

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On Friday, crude oil lost 1.70% as worries over Iran's return to global energy markets weighed on the price. Thanks to these circumstances, light crude slipped under support/resistance line and approached the barrier of $30. Will oil bears manage to push the commodity below it in the coming week?

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On Thursday, crude oil gained 2.13% as profit taking weighed on the price. As a result, light crude climbed above the resistance, but then gave up some gains and closed the day on it. Where will the commodity head next?

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Although crude oil moved higher after the market’s open, the bearish EIA weekly report dampened investors’ sentiment and pushed the commodity to slightly above the barrier of $30 once again. Will it withstand the selling pressure in the coming days?

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