Since the beginning of the year the commodity lost almost 8.0% and last week ended with a loss more than 2.5% in addition crude oil made a phase change, shifting from an accumulation to a bearish phase. Last week the crude oil went back and forward without any clear direction although closed in the red, in the middle of the weekly range, in addition the commodity managed to close within the previous week range, which suggests being clearly neutral, neither side is showing control. Stochastic is setting higher lows while price is making lower lows, signs of a potential bullish divergence. Expecting an upward move to a weekly resistance at 55.21 on a break above a Fibonacci retracement at 51.44 (scenario 1) however a bounce from a Fibonacci retracement at 49.11 may push the commodity back up to a weekly resistance at 53.65 (scenario 2).