WTI crude oil is in the middle of consolidation inside a symmetrical triangle on the 1-hour chart, and price could be due for a breakout soon as it approaches the peak of the formation. A break lower could set off a drop to the next downside targets marked by the Fibonacci extension tool. The 38.2% level is at $36.23 per barrel and lines up with the swing low, which could be the first major support zone. Stronger selling pressure could take crude oil down to the 50% extension at $35.53 per barrel. The 61.8% level is at $34.82 per barrel then the 76.4% level is at $33.95 per barrel. The full extension is located at ... (full story)