WTI CRUDE OIL

This will be an important week for Crude oil. WTI crude oil continues to consolidate directly above the long-term symmetrical triangle. After its  breakout above $98 levels and $104 levels, WTI crude oil formed a bullish chart pattern as part of the continuing uptrend. Short-term bullish flag is signaling a pause before the uptrend resumes. WTI should clear $109 levels to target $110-$115 area, and as long as price remains above $104, we should expect higher prices in the short/medium-term. Failure to break above $109 levels could result in further sideways consolidation between $104 and $109.