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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup
#WTI
Total Profit: 3320 point
Closed trade(s): 254 point Profit
Open trade(s): 3066 point Profit

Trade Setup:
We opened 8 BUY trade(s) @ 52.21 based on 'Hammer' at 2019.10.03.

Closed Profit:
TP1 @ 54.75 touched at 2019.10.11 with 254 point Profit.

Open Profit:
Profit for one trade is 56.59(current price) - 52.21(open price) = 438 point
7 trade(s) still open, therefore total profit for open trade(s) is 438 x 7 = 3066 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateOctober 26, 2019 - 20:06
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 42.600, beginning of uptrend is expected.
  • We make sure when the resistance at 63.100 breaks.
  • If the support at 42.600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 50.95 on 10/03/2019, so more gains to resistance(s) 57.80, 60.15 and maximum to Major Resistance (63.10) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 60.

Take Profits:

  1. 54.75
  2. 57.80
  3. 60.15
  4. 63.10
  5. 66.50
  6. 72.55
  7. 76.75
Click on the level to view price action history.

Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) Sat, 23 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 16 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 9 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 2 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 24 Feb 2024