2026-02-10 02:33:00
WTI crude oil has formed lower highs and higher lows inside a short-term symmetrical triangle.
Which way could it break out from here?
Check out these inflection points on the 4-hour time frame.
WTI Crude Oil (USOIL) 4-hour Chart Faster with TradingView
Conflicting geopolitical headlines on US-Iran tensions are keeping oil traders on edge, as the outcome of nuclear deal negotiations could have major repercussions on global supply levels. It’s no surprise that the energy commodity is stuck in a holding pattern for now, likely waiting for directional clues.
Meanwhile upcoming top-tier U.S. data points, including the January NFP release, could also have a strong impact on overall market sentiment and commodity movements.
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on the U.S. dollar and WTI crude oil, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
WTI crude oil is currently testing the top of its triangle pattern, so look out for long green candles closing above the resistance that could confirm a bullish break.
If this happens, the commodity price could climb to the next upside targets at R1 ($65.64 per barrel) then R2 ($67.79 per barrel).
On the other hand, a pickup in selling pressure could spur a test of the triangle support or a break lower, possibly sending crude oil down to S1 ($61.23 per barrel) then S2 ($58.97 per barrel). Sustained bearish momentum could even drag it down to the January lows near S3 ($56.82 per barrel).
Whichever bias you end up trading, don’t forget to practice proper risk management and stay aware of top-tier catalysts that could influence overall market sentiment.
Disclaimer:
Please be aware that the technical analysis content provided herein is for informational and educational purposes only. It should not be construed as trading advice or a suggestion of any specific directional bias. Technical analysis is just one aspect of a comprehensive trading strategy. The technical setups discussed are intended to highlight potential areas of interest that other traders may be observing. Ultimately, all trading decisions, risk management strategies, and their resulting outcomes are the sole responsibility of each individual trader. Please trade responsibly.
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