The Nymex crude oil futures market has seen a solid rebound from the December low, including negating a downtrend line. Now, bulls are working on a fledgling price uptrend. This week’s trading action will be extra important for the oil market. Oil traders will likely find out if the recent rally was just a corrective bounce in a market that is still overall technically bearish. Or, the price uptrend will be maintained to give the bulls even more confidence prices have bottomed out and will continue to trade sideways-to-higher in the coming weeks. Stay tuned