WTI Crude Oil made a fresh low on the year last week at 53.62. Then it has ranged with resistance at 58.92. (WTI Crude 4H Chart 12/24) The 4H chart shows that the market has maintained the bearish bias and momentum during this consolidation range. Price held below the 50-period SMA for the most part and the RSI is holding below 60, showing maintenance of the prevailing bearish momentum. A break below 53.62 should continue the downtrend to 50.00. A break above 59 can open up the 64.00 area, around which we have a support/resistance pivot area. Now, during the consolidation, we had 3 attempts that failed to break above 58.92. The latest bullish attempt however couldn't even push above 57.50. This could be an early sign that bears are ready to take over and continue the prevailing trend.