WTI crude oil continues to consolidate inside a symmetrical triangle pattern on the daily chart, with price currently testing the triangle support around the $100.00 area.

A bounce off this floor could keep the broader bullish bias intact and potentially set the stage for a continuation of the rally toward the Fibonacci extension levels overhead.

The Fibonacci extension tool highlights the upside targets where sellers could be lurking. The 38.2% extension sits at $100.64, which lines up closely with the triangle support and current price action, making it a key area to watch.

A push higher could reach the 50% level at $104.33, followed by the 61.8% extension at $108.01. Bulls with a stronger appetite could set their sights on the 76.4% extension at $112.58 or even the full extension level near $119.95 if momentum picks up significantly.

On the moving averages front, the 100 SMA is above the 200 SMA, confirming that the path of least resistance remains to the upside and that the rally is more likely to gain traction from here. Price is hovering near both indicators, so these dynamic levels could act as added support on any dips.

Stochastic is heading into the overbought region after a sharp move up from oversold levels, suggesting that buyers have been flexing their muscles. A turn lower from here, however, could signal a temporary pause before the next leg higher resumes. The oscillator has historically reversed around these elevated levels, so caution is warranted in the near term.

RSI, meanwhile, is trending in the mid-range with room to climb before reaching overbought territory, leaving the door open for further upside if buyers maintain control.

A hold above triangle support keeps the bullish continuation scenario alive for WTI crude oil. Resurfacing geopolitical tensions on peace proposal rejections and doubts over the ceasefire are keeping global supply concerns elevated for the time being.