On Friday, crude oil extended gains and hit a fresh nine-month high, supported by the deteriorating situation in Iraq. Thanks to these circumstances, light crude climbed to its next resistance zone. Will oil bulls be strong enough to break it in the near future?

• Read more

On Thursday, crude oil gained 2.26% as investors focused on escalating violence in Iraq, ignoring bearish U.S. data. As a result, light crude climbed to its highest level in nine months, hitting an intraday high of $106.95 and breaking above important resistance lines. How high can crude oil go in the near future?

• Read more

On Wednesday, crude oil moved higher supported by a drop in crude oil inventories. Despite this improvement, the commodity reversed and decline as gasoline and diesel supplies weighted on the price. Thanks to these circumstances, light crude climbed above its important resistance, but then reversed for the second day in a row. Third time lucky?

• Read more

Although crude oil hit a fresh three-month high supported by expectations that the EIA data would show that U.S. supplies fell for a second straight week last week, the commodity reversed and finished the day with a loss of 0.25%. Thanks to these circumstances, crude oil invalidated a breakout above the medium-term resistance line. Are there any other bearish technical factors on the horizon?

• Read more

On Monday, crude oil gained 1.70% as the combination of Friday's solid U.S. jobs report and upbeat Chinese export data weighted on the price. In reaction to these numbers, light crude rebounded sharply and reached the medium- and short-term resistance lines. Will they be strong enough to stop oil bulls’ charge?

• Read more