Although crude oil moved higher after the market’s open supported by a weaker greenback, the commodity reversed and declined to over two-month low in the following hours. As a result, light crude lost 0.65% and closed the day on the key short-term support. Will we see a rebound from here or rather further declines?

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On Wednesday, crude oil lost 3.76% after unexpected build in crude oil inventories. As a result, light crude slipped under $57, breaking below important medium- and short-term supports. What does it mean for the commodity?

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On Tuesday, crude oil gained 1.41% ahead of weekly API supply data, but did this upswing change anything in the short-term picture of the commodity?

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On Monday, crude oil lost 2.31% as uncertainty around negotiations regarding the Iranian nuclear deal weighed on the price. In this environment, light crude broke under important short-term supports and closed the day below them. Is it enough to accelerate further declines?

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Crude oil moved lower after the market’s open weakened by a stronger greenback, but the commodity reversed and rebound in the following hours. Despite this move, light crude closed the day below $60. Will short-term support levels hold in the coming week?

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