WTI Crude is now back at a key resistance. It is testing the late-January resistance pivot just under 35.00. There is bullish momentum and a 2-week trend behind the current attack on the 35.00 handle.USDWTI 4H Chart 2/29(click to enlarge)Here are some observations from the 4H chart:1) Price has made it above the cluster of 50-, 100-, and 200-period simple moving averages (SMAs). It also bounced up from this cluster, which is a bullish "slingshot" signal. Last time we saw thins was August-September 2014, which led to a bullish correction and consolidation until November. 2) Price has broken a falling trendline and is anchored above a rising trendline. 3) Price is being checked around 34.50, at the previous resistance. 4) There is a bearish divergence between price and the 4H RSI.Mixed Signals; 30 is "fair price": The observations shows mixed signals. In my opinion, the market is simply going to be choppy and technical signals will cause whipsaws. I rather look at this market as stabilizing in terms of trend direction, but still volatile with gravitation toward the 30 level, which is in the middle of the current consolidation area, and could be considered the "fair price" in the medium-term.. The higher WTI moves away from 30 the stronger the resistance factors will be.Bearish Scenarios: If we get another attempt at 34.50, and fail to make a higher high this week, I would suspect a bearish attempt to 30 is coming. There is a support pivot at 32 - if it breaks, we should expect a run towards 30. This bearish attempt has potential to overshoot towards the 27.50 support pivot area if not the 26 handle. Bullish Scenarios: If price does push above 34.50, we should respect resistance in the 36-38 area, which involves a falling trendline and a previous support and resistance pivot area. A break above 38 would convince me that oil has bottomed. In this scenario, I would consider buying on dips towards 34-35.