WTI Crude Oil Breaks Out of Symmetrical Triangle Formation

WTI crude oil has broken out of its symmetrical triangle formation, pushing prices above $97.79 per barrel on September 10, 2026.

This breakout suggests that an uptrend similar to the formation's height could be in store for the commodity, but it may need to pull back first to gather more bullish momentum before extending the climb.

The Fibonacci retracement tool shows potential levels where dip-buyers could step in: $90.98 (38.2% Fib) and $88.88 (50% level). A deeper correction could reach $86.78, which is near the triangle's midpoint and also a key support level.

If the pullback deepens, the 100 SMA and 200 SMA will serve as additional dynamic support, with price trading well above both indicators.

Stochastic is hovering in the overbought region, reflecting exhaustion among buyers after the sharp rally. RSI is also elevated near the overbought threshold but still has room to climb, suggesting buyers could remain in control a bit longer before sellers force a retracement.

Escalating geopolitical tensions could continue to prop oil prices higher, as further constraints to global supply come into play.