Crude oil prices are trading over one percent, brushing aside the unexpected rise in weekly stockpiles.

Spot price of WTI crude oil is trading just a few points above the 40.00 handle, nearing the 41.00 level.

Price action so far is signaling further upside based on the ascending triangle pattern.

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A continuation to the upside will see oil prices targeting a minimum of 46.50 at the very least.

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