Definitely a symmetrical developing for WTI. It is nicely noticeable using the 1 hour chart. Clearly the $63 area is support, and it is now a battle between the bulls who are trying to keep WTI above $63, while the bears seek to break it down below $63. The apex of this symmetrical triangle will be hit fairly soon. My guess is that within the next 2-4 hours, WTI will break out (which way it goes, I am not sure).
Definitely a symmetrical developing for WTI. It is nicely noticeable using the 1 hour chart. Clearly the $63 area is support, and it is now a battle between the bulls who are trying to keep WTI above $63, while the bears seek to break it down below $63. The apex of this symmetrical triangle will be hit fairly soon. My guess is that within the next 2-4 hours, WTI will break out (which way it goes, I am not sure).