WTI Crude Oil has been rallying sharply after it made a low on the year around 26.10. As we can see in the daily chart, the rally has broken above a couple of falling trendlines, some resistance pivots, and the 50- and 100-day simple moving averages (SMAs). USDWTI Daily Chart 3/22(click to enlarge) As we can see in the daily chart, price is now about to tag the 200-day SMA around 42.00. An even more important level is just above, around 43.35, which is a key support/resistance pivot. This will be a critical resistance level especially if the RSI is also above 70. If we examine the March-June rally in 2015 from 42-62, we see an almost 50% rally. Here, we already surpassed a 50% rally from the 26 low. I think if we start to see price flatten out in the 42-43.35 area, we should consider a bearish bias with downside first towards the 34.35 support/resistance pivot.