WTI Price Analysis: 4H chart retains bull bias despite rejection at $28.24

• WTI's 4-hour chart shows a symmetrical triangle breakout. 
• The breakout is backed by a bullish crossover of key averages. 

The West Texas Intermediate's (WTI) front-month contract is currently trading around $27.95, having faced rejection above $28.20 during the overnight trade. 

The bias remains bullish, as the symmetrical triangle breakout confirmed on the 4-hour chart on Thursday is still valid. The pattern indicates the rally from lows below $10 observed last month has resumed. 

Further, the 4H 100-candle average has crossed above the 200-candle average. As a result, a rally to $30 cannot be ruled out. 

The bullish case would be invalidated if prices fall back into the symmetrical triangle. 

Hourly chart

Trend: Bullish

Technical levels