WTI Crude Oil Breaks Out of Symmetrical Triangle Pattern

WTI crude oil has broken out of a long-standing symmetrical triangle pattern that formed since March's highs, pushing above the upper trend line near $90.00 to test the $94.44 area.

This breakout indicates an uptrend with similar height could follow, potentially setting the stage for a fresh leg higher in prices.

The 100 SMA has crossed above the 200 SMA, confirming that the path of least resistance is now on the upside or that the rally will gain traction from here.

Price is also holding above both moving averages, which could reinforce their role as dynamic support on any pullback toward the triangle's upper boundary or the apex near $83.00.