On Monday, crude oil gained 1.11% as fresh worries over geopolitical tensions in Ukraine and in Gaza supported the price. In this way, light crude erased the Friday’s decline, but did this upswing change anything in the short-term picture?

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On Friday, crude oil lost 2% as the combination of disappointing U.S. sentiment data and profit taking weighed on the price. Because of these circumstances, light crude erased most of the Thursday’s rally and approached the support zone once again. Did this drop change anything in the short-term outlook?

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On Thursday, crude oil gained 2.21% as mostly upbeat U.S. economic data and tension fears between Ukraine and Russia supported the price. As a result, light crude shot up and hit a one-week high, reaching an important resistance zone. Will it stop the rally?

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On Wednesday, crude oil gained 1.33% as the combination of upbeat Chinese growth numbers and bullish the EIA weekly report supported the price. Thanks to these circumstances, the commodity bounced off a two-month low and invalidated earlier breakdown below two important support/resistance lines. Does it mean that a new uptrend has begun?

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On Tuesday, crude oil hit a fresh two-month low of $99.01 as an improving picture for global supplies weighed on the price. Although the commodity was trading below the psychological barrier of $100 for the first time since May, light crude rebounded after a drop to the support zone. Could it stop oil bears’ charge?

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