When we back at the WTI Crude Oil prices in 2016-2017, we saw that there was a period (about 1 1/2 years) when it ranged roughly between $40 and $55.USDWTI Daily Chart(click to enlarge)From Sharp Swing to Consolidation:- After the sharp swing from a high just under $77, price found support around $42. - This has already been a sharp decline, so it is appropriate to anticipate a period of more sideways/choppy price action.- Finally, the sharp V-shape reversal from $42 suggests that indeed, there is strong support around that common support area above $40. - We are also see a strong reaction from around $53, which also suggests the market is respecting the common support/resistance pivot around $55. - Based on these observations, I think there is a good chance price will range between $40 and $55 at least in the first half of 2019.