In our Friday's analysis, we noted that: (...) 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 session brought us renewed selling pressure, yet the bears couldn't keep all of their gains till the closing bell. The bulls' response earlier today hasn't been ... (full story)