The price of WTI crude oil futures are selling at $72.73. That is up $0.11 or 0.15%.
Looking at the hourly chart below, the price has been trending below its 100 hour moving average (blue line on the chart below) at $73.45 currently. Staying below that level kept the sellers more in control.
The price also is trading back below the 50% of the move up from the December low to the January high. That level comes in at $73.84.
Going forward it would take a move back above the 100 hour moving average and the 50% retracement to tilt the short-term bias back to the upside.
On the downside the price did dip below its 61.8% retracement and $72.21, but that break was short-lived. Getting back below that level and staying below that level would increase the bearish bias and likely lead to more downside probing.