Price of WTI Crude Oil (USDWTI) has been bullish in November. This week, price came up against a key resistance just under 52.00 and cracked it, but as we can see in the daily chart below, it immediately retreated. USDWTI Daily Chart 12/6(click to enlarge)Resistance Holding so Far:- The market appears to be holding resistance at 52.00. - There is a very short-term bearish outlook to 49.00. I think we shouldn't expect much of a bearish scenario. - Looking at the 4H chart below, we can see another support in the 47-48 range where price would meet a rising trendline. - On the other hand, if price comes up and breaks 52.00, look for a strong push towards 60.00.USDWTI 4H Chart 12/6(click to enlarge)Bearish Outlook:- I prefer the bullish outlook for oil, but if price doesn't come up again to break above 52 and instead fall below 47, I would anticipate downside risk towards 43, a common support since September.- The bearish outlook should be capped at 40, which represents the lower bound of the range since April.