Oil keeps consolidating

The consolidation that oil is keeping has formed what it appears to be a symmetrical triangle with the 56.44 as support and the 62.73 as resistance. Symmetrical triangles usually behave as continuation patterns, meaning that the price continues in the direction where it was coming from, but in reality the price may break out in any direction. The only inconvenience of a bullish breakout is that we have the 200 exponential moving average around the 63.61 level, which could act as a good resistance.