Even though the bulls have been down for the last few sessions, they've managed to maintain the short-term support that's most important to them. In addition, another potential ally has appeared on the horizon. Will they use its potential to regain the levels they lost?
Exclusive Oil Price Analysis
Another red candle, another gap, another test… When will there finally be a breakthrough, and we'll see a bigger move in the price of black gold?
On Friday, crude oil lost 2% and extended Wednesday losses. What are the consequences of this price action? Have the bears taken over for good?
The sharp drop in oil prices after the market opened on Wednesday could have scared a lot of bulls. But what are the real implications?
In the last week, you've had the opportunity to read daily about the fate of black gold. At the moment of writing these words, the technical situation has not changed significantly, which means that yesterday's scenario remains valid.
On the one hand, the Monday session can be considered a very successful one. The white candle urges you to make investment decisions now. But what is the other side of the coin, and what are its implications for the nearest future?
Technical tips from the previous days warned of a return of the bears to the market, but such a strong bullish weakness as yesterday was not seen on the chart for a long time. Is there any chance for the buyers to improve their fortunes?
Invalidation of the earlier breakout lured the bears back to the market. What has this led to, and what effect might this have on the price of black gold in the very near future?
Oil Price Analysis
Crude oil lost 1.81% during yesterday’s session, but is this the end of the buyers' fight for higher prices?
Oil bulls pushed the price of black gold, but the commodity is still struggling with the impact of candlestick formations. What does it mean?
On Friday, crude oil extended gains and reached the next upside target. But do bulls have the strength for more?