WTI crude oil is carving out a symmetrical triangle pattern, with a descending trend line connecting the lower highs since the spring high near $93 and a rising trend line connecting the higher lows off the July bottom around $68.
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WTI crude oil has broken above the descending trend line that capped every rally attempt since early June, and the former ceiling is now being retested as support.
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WTI crude oil has broken above the descending trend line that connected its lower highs since late July, hinting that the selling pressure from the previous swing high near $82.50 may be fading.