For more news and analysis see: www.tradinglimit.com NYMEX Crude Oil To Consolidate On Short - Term Charts 29 / 04 / 2005 at 07:00 cet The Nymex crude oil futures, at $51.75, set to consolidate sideways in coming days, maybe weeks, earlier this week they triggered minor head and shoulders (late April peaks) showing they're no longer short-term bullish, but last night they bounced strongly from major support at $49.83, (61.8% retracement of rise from February low), which means they're not short-term bearish either. So consolidation between $49.83 and $53.60 resistance (neckline of head and shoulders) likely for some days at least, immediate, minor underlying resistance at $52.15. While crude holds uptrend line from mid - December (now at $49.80), eventual breakout from consolidation range will be most likely to occur on upside, targeting at least late April peak of $56.00.