The price of WTI Crude Oil $USDWTI has been bullish since December when price came down to almost $42. It has since rebounded to $66 in April before retreating. So far in May, after a month of consolidation, it looks like oil price remains bullish and may have another run towards $70.USDWTI Daily Chart(click to enlarge)Bulls in Charge:- The daily chart shows that bulls are still in charge.1) Price consolidated and held above the 200-day simple moving average (SMA).2) Price held above the psychological level of $60.3) The RSI held above 40 after it pushed above 70 in April.4) Price is moving above its recent 2-week consolidation range.- These are signs that USDWTI may be on another bullish swing.- We can anticipate some resistance at $66. But if the market is indeed still bullish, the $70 pivot could be next. This is where price will be pushing up against a falling resistance, so I would limit the bullish outlook to the area around $70 for now.USDWTI Weekly Chart(click to enlarge)