On Monday, crude oil lost 0.33% as weak Chinese import data and a stronger U.S. dollar weighed on the price. Because of these circumstances, light crude extended losses and hit a nine-month low of $91.80. Will the proximity to the strong support zone encourage oil bulls to act in the coming days?

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On Friday, crude oil lost 1.22% as disappointing jobs report and ceasefire agreement between Ukraine and pro-Russian separatists weighed on the price. As a result, light crude extended losses and approached the recent lows. Will we see a test of the strength of the Jan low in the coming days?

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On Thursday, crude oil lost 0.53% as smaller-than-expected drop in crude oil inventories and a stronger U.S. currency weighed on the price. Although light crude reversed and slipped below $95, the commodity is trading in a consolidation. Is this a sign of strength or rather the last stop before new lows?

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On Wednesday, crude oil rebounded sharply and gained 1.96% as expectations that steps toward a ceasefire in eastern Ukraine could boost economic growth in Europe weighed on the price. As a result, light crude almost completely erased Tuesday's losses and closed the day above $95 per barrel. Is this another one-day rally or will we see further improvement in the coming days?

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On Tuesday, crude oil lost 2.70% as the combination of disappointing Chinese data and stronger U.S. dollar weighed on the price. Because of these circumstances, the commodity bounced down the medium-term resistance zone and approached the recent lows. Will they withstand the selling pressure?

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