On Tuesday, crude oil lost 0.60% as concerns over another build in U.S. crude oil inventories pushed the price of the commodity lower. As a result, light crude moved away from resistance line and slipped under $46 (an intraday low). Will we see crude oil below $45 in the coming days?

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On Monday, crude oil lost 2.43% as disappointing Chinese data weighed on investors’ sentiment. As a result, light crude slipped under the previously-broken Fibonacci retracement and closed the day under $47. Will we see further declines in the coming days?

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On Friday, crude oil moved higher once again as Baker Hughes report showed another decline in oil rigs. In this environment, light crude gained 1.86% and climbed above the Fibonacci retracement. What does it mean for the commodity?

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Although light crude moved sharply lower at the beginning of yesterday’s session weakened by larger-than-expected build in crude oil inventories, the commodity reversed and gained 1.23% later in the day. Is this just a one-day rally or the end of recent declines?

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On Wednesday, crude oil lost 0.60% as disappointing Chinese data fuelled concerns over lower global demand for crude oil and pushed light crude to an intraday low under $46. Where will the commodity head next?

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