WTI Crude has enormously important resistance at 5190/5230. Nothing else matters. Holding below signals more range trading as we have been for 6 months. Holding below 5120/15 targets minor support at 5080/75. Below 5050 targets good short term support at 5015/10. Downside is likely to be limited at this stage, but a break below the November high at 4990 risks a slide to 4965 and the best support for today at 4960/50.
Above 5130 allows a retest of yesterday's high at 5175/80. As above, enormously important resistance at 5190/5230. A weekly close above here (but I would prefer a day close also for confirmation) would be a big buy signal longer term. First targets are 5315/10, 5350, 5385/90, 5410/15.