Although oil bulls managed to push the futures higher and broke above the upper border of the rising green trend channel during yesterday's session, Monday's upswing turned out only temporary. Earlier today, crude oil futures opened the day with the bearish pink gap, invalidating yesterday's breakout above the channel. This bearish development triggered further deterioration in the following hours, which means that our yesterday's analysis is up-to-date also today: (...) the sizable red gap remain in play. It keeps supporting the bears and lower values of the futures in the coming week(s). We hope you enjoyed reading ... (full story)