Crude oil prices closed on a soft note on Friday following a week of strong gains.
Subsequently, price action closed bullish on a weekly basis. This comes after two weeks o declines.
Still, prices are back at where they were, four weeks ago.
The consolidation near the 41.00 and the 37 regions indicateS a tight sideways range. This could lead to a potential breakout in the near term.
The bias remains mixed as to the upside, oil will need to challenge the previous highs at and around the 43.00 handle.