WTI crude oil recently broke out of its symmetrical triangle pattern on the 4-hour chart to signal that bulls have won over. Price seems to be completing its retest of the broken resistance and might be ready to set its sights back up. Applying the Fibonacci extension tool on the latest swing low and high shows that the 50% level lines up with the swing high. A move past this could take the commodity to the next resistance at the 61.8% level or $64.22 per barrel then the 78.6% level at $65.81 per barrel. Stronger bullish momentum could take crude oil up to the full extension at $67.84 per barrel. The 100 SMA is above ... (full story)