WTI crude oil (USOIL) is holding steady near $60.50 after rebounding from the key 38.2% Fibonacci support at $60.03. The price is consolidating within a symmetrical triangle, with resistance near $61.50 and support around $59.25. The 50- and 200-period EMAs are converging at $60.40, suggesting a potential breakout zone ahead.
A close above $61.50 could open the path toward $62.54, while a drop below $59.25 might expose $58.46 and $57.24 levels. RSI hovers near 46, indicating balanced momentum.
Traders are watching for a decisive move out of the triangle to confirm short-term direction, with the broader trend still supported by higher-lows structure from the October base around $56.
