WTI contract hits new 2019 high but risk of extended sideways mode exists

WTI oil price regained traction and hit new 2019 high at $60.71 on Friday, following short-lived dip to $58.20 on Thursday, pressured by repeated comment from the US President Trump about too high oil prices.
Market resisted the attack this time, keeping strong bullish sentiment, boosted by output reduction and US sanctions on two countries from the group of major oil exporters.
WTI contract is on track for the fourth consecutive bullish week and also registered the strongest quarterly gains since 2009.
Initial probe above previous high at $60.37 was not able to sustain gains but subsequent easing remained above broken psychological $60 support, keeping near-term bias with bulls.
Eventual close above cracked $60 barrier would generate initial bullish signal which requires confirmation on close above $60.37 to signal an end of week-long consolidation and continuation of larger uptrend from $42.36 (2018 low posted on 24 Dec) towards next target at $61.58 (200SMA).
Strong bullish signals come from weekly chart but flat daily momentum and stochastic warns of extended sideways mode if bulls fail to close above $60.37, consolidation top.

Res: 60.37; 60.71; 61.00; 61.58
Sup: 60.00; 59.62; 58.80; 58.29