Will oil rally again?

On the daily chart of the WTI light crude oil we can see that the commodity has been retracing to the downside lately, but it seems like the retracement is losing its momentum and the price is trying to go back up. The bullish trend is still in place and if the next daily candles appears to be a bullish candle, then it could be confirming a “hammer” formation, which is a bullish-reversal pattern. However, the 200 day exponential moving average, around the 42.25 level could act as resistance. To the downside, the 37.00 or the 55 day exponential moving average could act as support.