WTI Oil: Break Above 200-Day MA Could Trigger Move to $85West Texas Intermediate Crude Oil cashBLACKBULL:WTItimothysmith78West Texas Intermediate (WTI) crude oil continues to gain ground early Wednesday after the U.S. launched fresh strikes on Iran in retaliation for attacks on commercial vessels in the Strait of Hormuz. The commodity closed 5% higher in New York Tuesday following Washington revoking its waiver on Iranian oil sanctions following the strikes. Taking a closer look at the chart, oil bulls recently stepped up to defend a key horizontal trend line around $67 that extends back to early July last year, potentially setting the stage for another bullish leg higher in the commodity. A convincing break above the closely-watched 200 MA could trigger a move toward $85. This area on the chart would likely provided key overhead resistance near notable troughs in March, April, and May, which also currently sit in close proximity to the downward sloping 50 MA.