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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup
#WTI
Total Profit: 3909 point
Closed trade(s): 813 point Profit
Open trade(s): 3096 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.
TP2 @ 57.80 touched at 2019.11.06 with 559 point Profit.
254 + 559 = 813 point

Open Profit:
Profit for one trade is 57.37(current price) - 52.21(open price) = 516 point
6 trade(s) still open, therefore total profit for open trade(s) is 516 x 6 = 3096 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.
DateNovember 9, 2019 - 17:28
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 42.60, beginning of uptrend is expected.
  • We make sure when the resistance at 63.10 breaks.
  • If the support at 42.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 53.71 on 10/31/2019, 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) new Sat, 11 Jul 2020
West Texas Intermediate Oil (WTI) Sat, 4 Jul 2020
West Texas Intermediate Oil (WTI) Sat, 27 Jun 2020
West Texas Intermediate Oil (WTI) Sat, 20 Jun 2020
West Texas Intermediate Oil (WTI) Sat, 13 Jun 2020
History
Daily-Trading-Opportunities on WTI.