WTI crude oil has been consolidating inside a symmetrical triangle pattern since June, with a descending trend line connecting lower highs and an ascending trend line connecting higher lows.

Price looks ready to test the upper boundary of this formation near $84.26, marking a critical juncture for the next directional move.

If the descending trend line holds as resistance, WTI could turn lower and head back toward the ascending trend line for support, which currently lines up in the $79.00 to $80.00 region. A bounce off this rising support could keep the triangle intact and set up another test of the upper boundary down the road.

On the other hand, a decisive break above the descending trend line could confirm a bullish resolution of the triangle. Given that the pattern spans roughly $25 at its widest point back in June, a measured move breakout could propel crude oil toward the $100.00 to $105.00 area over the medium term.

The 100 SMA has been trending above the 200 SMA since early July, which points to underlying bullish momentum even as price consolidates within the triangle. Both moving averages are also flattening out near current price action, which could act as dynamic support if a pullback unfolds.

Stochastic has climbed back into overbought territory, reflecting strong buying pressure behind the latest push toward resistance, though this also raises the risk of exhaustion if sellers step back in.

RSI is following a similar path higher, still with some room before reaching overbought levels of its own, suggesting there could be a bit more upside fuel left if buyers manage to force a breakout.

For now, the triangle apex is narrowing, meaning a resolution one way or the other is likely to happen soon, with the reaction at the current resistance test likely to set the tone for whether WTI consolidates further or stages a stronger directional move.