Crude Oil 4H Technical Analysis: Symmetrical Triangle Compression

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Source: Dukascopy Bank SA
LIGHT.CMD/USD reveals a well-defined symmetrical triangle pattern, characterized by converging descending resistance and ascending support lines that signal a period of intense price compression and market consolidation. Currently trading around 99.760, the price is hovering just above the tightly bunched 100-period and 200-period Simple Moving Averages, which are flattening out to form a dense cluster of dynamic support. Because this coil indicates that buyers and sellers are reaching an equilibrium near the triangle's apex, a significant breakout is imminent.



A decisive 4-hour candle close above the upper trendline near 104.00 would open the path toward horizontal resistance at 110.00 and 115.155, while a breakdown below the moving averages and lower trendline at 96.00 would shift the bias sharply bearish toward major structural support at 89.750.
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