On Thursday, crude oil gained 4.56% as a weaker greenback supported the price. In this way, light crude climbed above $50 once again, but did this increase change anything?

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On Wednesday, crude oil lost 5.57% as a bearish EIA weekly report and a stronger greenback weighed on the price. As a result, light crude reversed and declined sharply, approaching the Apr 2009 lows once again. Will we see another breakdown?

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On Tuesday, crude oil gained 3.49% as the combination of weaker greenback and productions cuts by major oil companies supported the price. Thanks to these circumstances, light crude extended rally and broke above important resistance levels. Did the commodity reach the final bottom?

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On Monday, crude oil gained 4.14% as Friday’s Baker Hughes’ report continued to weigh. Weaker U.S. dollar supported the commodity as well. As a result, light crude climbed to $50 per barrel for the first time since Jan 15. Is the final bottom in?

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On Friday, crude oil bounced off the recent low and gained 7.31% after oil investors digested the Baker Hughes‘report. Thanks to this increase, the commdity invalidated the breakdown under important support levels. Does it mean that the worst is behind oil bulls?

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