On Friday, crude oil lost 4.11% as the combination of a stronger greenback and the International Energy Agency commentary weighed on investors’ sentiment. In this environment, light crude dropped below the Feb low and other important support levels. Is it time for a test of the Jan lows?

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On Thursday, crude oil lost 3.08% as disappointing U.S. data fuelled worries over the strength of the economy. As a result, light crude extended losses and almost tuched the Feb low. Will we see a double bottom or further declines in the coming days?

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On Wednesday, crude oil lost 0.70% as EIA weekly report weighed on the price. Thanks to another build in domestic inventories light crude extended losses and slipped to the Apr 2009 lows. North or south from here?

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On Tuesday, crude oil lost 2.54% as the combination of the EIA forecasts and a stronger U.S. dollar weighed on the price. In these circumstances, light crude declined under the previously-broken support line, approaching the mid-Feb lows. Will we see a rebound from here or a breakdown below them?

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Although crude oil increased above $50 supported by a weaker greenback, the commodity erased some gains as the Genscape, Inc report weighed on investors’ sentiment. As a result, light crude gained 0.50%, but did this increase change anything in the short-term picture of the commodity?

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