UD Crude Oil (USD/WTI) has been recovering since holding above $50 a barrel. I noted we would first see resistance around $54-$55, then around $60. USDWTI Daily Chart(click to enlarge)Resistance:- As price recovers, USD/WTI will be coming up against the cluster of moving averages, most importantly the 200-day SMA.- Also, the area around $60 is a key support.resistance pivot area, reinforced by a falling resistance.- Finally, the RSI is going to be around 60. If the market is still bearish, the RSI will likely hold and turn lower from here.- A clean break above $60 on the other hand can open up the $70 area. - Otherwise, I think we can expect either more sideways action between $50-$60 or further downside towards the $42 area, which was the low in 2018 as well as 2017 and 2015.USDWTI Weekly Chart(click to enlarge)