Both sides go into the game on the back of important wins in Europe, with Real Madrid winning 3-0 away to Juventus in the first leg of their Champions League quarter-final, while Atletico beat Sporting Lisbon 2-0 in the Europa League.
Atletico made a sloppy start to the second half and were punished by Ronaldo.
Antoine Griezmann, left, cancelled out a goal scored by Cristaino Ronaldo, middle, and the Madrid derby ended in a draw.
Navas then had to keep out a strike from Koke as the visitors looked to complete the turnaround at the Bernabeu.
Bale had operated on the margins of the contest up until that point but the Wales winger stormed down the left flank and Ronaldo pulled into space behind Lucas Hernandez, drilling a volley into the turf and beyond Oblak.
Saul bent a shot narrowly wide for Atletico and Real, who brought on Luka Modric and Isco for Mateo Kovacic and Asensio, nearly snatched a late, late victor but Oblak made an excellent save from Sergio Ramos' free kick.
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Real Madrid were the team pressing for the game's third goal in the final stages - and Ramos came close late on with a brilliant free kick that was kept out by Oblak - but Atletico held firm to pick up yet another positive result at the Bernabeu as they strengthened their grip on second spot.
"We are not doing anything special for the game", Partey told Citi Sports.
Moments later, Atletico had a great opportunity to score through Diego Costa. Griezmann might have had scored earlier in the game if Costa, who had a frustrating afternoon, had spotted him eight yards out.
Real Madrid is now third with 63 points, while the Rojiblancos are second with 67 points, behind the leaders, FC Barcelona.
Dermot Corrigan is a Madrid-based football writer who covers La Liga and the Spain national team for ESPN FC.