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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup
#WTI
Total Profit: 5348 pip
Closed trade(s): 2716 pip Profit
Open trade(s): 2632 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 52.16 (day close price) based on 'Hammer' at 2019.10.03.

Closed Profit:
TP1 @ 54.75 touched at 2019.10.11 with 259 pip Profit.
TP2 @ 57.80 touched at 2019.11.06 with 564 pip Profit.
TP3 @ 60.15 touched at 2019.12.13 with 799 pip Profit.
TP4 @ 63.10 touched at 2020.01.03 with 1094 pip Profit.
259 + 564 + 799 + 1094 = 2716 pip

Open Profit:
Profit for one trade is 58.74(current price) - 52.16(open price) = 658 pip
4 trade(s) still open, therefore total profit for open trade(s) is 658 x 4 = 2632 pip

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.
  • If the Midterm level 57.800 is broken, we will close open trades.
DateJanuary 18, 2020 - 20:06
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 57.800, beginning of uptrend is expected.
  • We make sure when the resistance at 66.500 breaks.
  • If the support at 57.800 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 57.800 is broken.

Technical analysis:

  • A peak is formed in daily chart at 65.45 on 01/07/2020, so more losses minimum to Major Support (57.80) 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 44.

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) 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.