The Nymex crude oil market is still trending up from the multi-year low scored a few weeks ago. The price uptrend on the daily chart suggests the market has put in a major low. A move in prices above solid chart resistance at $55.00 a barrel would give the bulls fresh technical power to suggest a fresh leg up in prices in the near term. It’s my bias, however, the oil prices will trade between $45.00 to $55.00 a barrel for much of 2019–barring an unexpected, major geopolitical event that could significantly impact oil prices. Stay tuned!