On Friday, crude oil lost 5.04% as supply worries related to the crisis in Yemen waned. Additionally, disappointing Baker Hughes reported watered down the price as well. As a result, light crude declined sharply, invalidating earlier breakouts above important resistance lines. What does it mean for the commodity?

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On Thursday, crude oil lost 2.61% as the combination of a stronger greenback and a comeback of concerns over a supply glut weighed on the price. In these circumstances, light crude re-approached the Jan lows, but then rebounded. What’s next?

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Although crude oil hit a fresh 2015 low after EIA weekly report, the commodity reversed and rebounded sharply as weaker greenback supported the price. As a result, light crude gained 5.33% and invalidated the breakdown under the Jan low. Is this as bullish signal as it seems at the first sight?

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On Tuesday, crude oil lost 3.11% as ongoing concerns over a supply glut weighed on investors’ sentiment. In this way, light crude hit a fresh 2015 low, but will we see a test of $40 in the coming days?

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On Monday, crude oil lost 2.69% as OPEC monthly report weighed on the price. As a result, light crude extended losses and dropped to a fresh 2015 low. How low could the commodity go in the coming days?

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