On Monday, crude oil lost 0.64% on indications that global supplies would remain ample as OPEC may not cut output at its next meeting in November to support prices. Because of these circumstances, light crude slipped to the long-term support line. Will it withstand the selling pressure and encourage oil bulls to act?

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Although crude oil bounced off a two-year low on Friday, gaining 1.40%, ongoing concerns over signs of an abundance of light crude in combination with slumping demand outside of the U.S. continued to weight on the commodity. Will Friday’s upswing trigger a trend reversal?

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Crude oil price declined significantly in the last 2 trading days. Many traders are wondering why has this happened and if there are chances for a reversal anytime soon. Today’s alert provides detailed insights and our reply to the title question.

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The price of crude oil has done more or less what we have already described in yesterday’s alert. It had moved to our target area. The “black gold” closed below its previous 2014 low, but still above its 2013 low. Will it finally reverse or was the June – Oct decline just a beginning?

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The price of crude oil declined yesterday and it’s declining also today. The "black gold" is now below its previous 2014 low, but still above its 2013 low. Will it finally reverse or was the June – Oct decline just a beginning?

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