While crude oil futures moved higher yesterday, the bulls had no success closing any of the open three gaps - neither the pink, nor the orange, nor the red one. This relative weakness triggered a pullback and the futures finished the day below the orange gap. Earlier today, the futures opened with yet another bearish gap, which by itself doesn't bode well for the bulls. This is especially so when we factor in the nearest key resistance area created by the above-mentioned three gaps and the 61.8% Fibonacci retracement. As long as the gaps keep putting a stop to the bulls' effort, the way higher is blocked and reversal ... (full story)