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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup
#WTI
Total Profit: 7714 point
Closed trade(s): 3750 point Profit
Open trade(s): 3964 point Profit

Trade Setup:
We opened 9 SELL trade(s) @ 65.11 (day close price) based on 'Peak' at 2019.04.25.

Closed Profit:
TP1 @ 61.85 touched at 2019.05.02 with 326 point Profit.
TP2 @ 60.15 touched at 2019.05.06 with 496 point Profit.
TP3 @ 58.05 touched at 2019.05.23 with 706 point Profit.
TP4 @ 55.20 touched at 2019.05.31 with 991 point Profit.
TP5 @ 52.80 touched at 2019.06.03 with 1231 point Profit.
326 + 496 + 706 + 991 + 1231 = 3750 point

Open Profit:
Profit for one trade is 65.11(open price) - 55.20(current price) = 991 point
4 trade(s) still open, therefore total profit for open trade(s) is 991 x 4 = 3964 point

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 60.950 is broken, we will close open trades.
DateAugust 3, 2019 - 20:39
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 60.950, resumption of downtrend is expected.
  • We make sure when the support at 50.700 breaks.
  • If the resistance at 60.950 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 60.950 is broken.

Technical analysis:

  • A peak is formed in daily chart at 58.75 on 07/30/2019, so more losses to support(s) 52.80 and minimum to Major Support (50.70) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 43.

Take Profits:

  1. 61.85
  2. 60.15
  3. 58.05
  4. 55.20
  5. 52.80
  6. 49.50
  7. 45.80
  8. 42.60
Click on the level to view price action history.
Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) Sun, 14 Apr 2024
West Texas Intermediate Oil (WTI) Sat, 6 Apr 2024
West Texas Intermediate Oil (WTI) Sat, 30 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 23 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 16 Mar 2024
History
Daily-Trading-Opportunities on WTI.