WTI CRUDE OIL: Triangle breakout revealing the trend.

WTI Crude Oil is failing on the 4H MA50 and maintains a dangerous Triangle on the 4H timeframe on neutral technicals (RSI = 44.789, MACD = -0.040, ADX = 23.667) which can breakout either way.

So far it is supported by an HL trendline like the March pattern but if this breaks, which would mean downward breakout for the Triangle, we will sell, after the 4H MA50 gets rejected as a Resistance, and target the S1 (TP = 64.00).

If the Triangle breaks upwards, we will buy and target the 4H MA200 (TP = 76.00).


Prior idea:


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