Crude Oil || BREAKOUT FROM TRIANGLE PATTERN

Chart Analysis: Crude Oil (1-Hour Timeframe)


Pattern: A symmetrical triangle pattern is forming, signaling potential consolidation before a breakout.
The price is approaching the apex of the triangle, indicating that a breakout could occur soon.


Key Levels:
Support: Around 5,821 (Fibonacci 0.236 level).
Resistance: At 5,927 (Fibonacci 0.618 level) and 6,034 (Fibonacci 1.0 level).
The 55 EMA (5,874) is acting as dynamic resistance.

Long Trade (Bullish Breakout):
Entry: Above 5,895 (triangle breakout)
Target 1: 5,927
Target 2: 6,034
Stop Loss: 5% - 10%

Short Trade (Bearish Breakdown):

Entry: Below 5,821 (triangle breakdown).
Target: 5,750
Stop Loss: Above 5,862