In the WTI Crud eOil daily chart, we can see the market forming a price bottom. Note that price has broken above the 54.45, previous high on the year. Just based on price action we can see that the decline in oil since 2014 has stalled and shifted at least into a sideways market.(click to enlarge) Last week, the market started to turn more bullish with a break above 54.45 The RSI has broken above 60, which reflects loss of the prevailing bearish momentum, and if it tags 70, it would show bullish momentum. This week, with price holding above the 54.45-50 area, WTI Crude Oil has at least upside risk towards the 58.90 high this week. Now, if there is a pullback 50 will be key. A break below 50 might still revive the bearish outlook, and a hold above it would further confirm the price bottom scenario, which open sup towards the 65 area.When we look at the 4H chart, we can see that price is indeed holding above 54.45, and the bullish candles are engulfing. This suggests further upside in the short-term and puts the 58.90 resistance up to the 60 psychological level in sight.WTi Crude 4H Chart 4/20 (click to enlarge)