Let's take a closer look at the chart below and assess the likely crude oil price path ahead. We wrote these words yesterday, and they ring true also today: (...) The short-term situation hasn't changed much. Crude oil futures keep trading inside the blue consolidation and around the red support/resistance line and the 50% Fibonacci retracement. They're also still trading inside the rising purple trend channel below the upper border of the orange gap. Therefore as long as there is no breakout above these resistances another attempt to move lower is likely. Yesterday's candle shows that bulls have been rejected at the ... (full story)