WTI crude oil is carving out a symmetrical triangle pattern on the short-term time frame, as lower highs and higher lows converge toward an apex around the $97.00–$98.00 area.

Price is currently wedged tightly between the two converging trendlines, suggesting that a significant breakout move could be just around the corner.

If buyers manage to push price above the descending triangle top, WTI crude could set its sights on the swing high near $110.00 per barrel, with the measured move target derived from the triangle’s widest point suggesting even further upside potential beyond that level.

On the other hand, a breakdown below the rising triangle floor could expose the commodity to a deeper selloff toward the $85.00 region and potentially lower.

The 100 SMA is above the 200 SMA, confirming that the path of least resistance remains to the upside and that the broader bullish trend is still intact. Both moving averages are sloping upward beneath current price action, reinforcing their role as dynamic support on any dips and adding weight to the bullish breakout scenario.

However, stochastic has recently rolled over from the overbought region and is now heading lower, suggesting that selling pressure is beginning to build within the triangle. The oscillator has room to slide before reaching the oversold zone, meaning price could continue drifting toward the lower trendline before a decisive move materializes.

RSI, meanwhile, is hovering in the mid-range without a clear directional bias, reflecting the indecision that typically accompanies a consolidation pattern of this nature. A push toward overbought territory would align with a bullish breakout, while a drop toward oversold levels could precede a breakdown.

Traders will want to wait for a confirmed candle close outside the triangle boundaries before committing to either direction, as false breakouts within symmetrical patterns are not uncommon.