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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (45.00 to 42.60). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (45.00)
    • Support on 01/13/2015
    • Support on 01/14/2015
    • Support on 01/23/2015
    • Support on 03/19/2015
    • Support on 03/20/2015
    • Support on 08/03/2015
    • Support on 08/05/2015
    • Resistance on 08/07/2015
    • Resistance on 08/10/2015
    • Resistance on 08/11/2015
    • Resistance on 08/30/2015
    • Support on 08/31/2015
    • Support on 09/11/2015
    • Support on 09/16/2015
    • Support on 09/18/2015
    • Support on 09/20/2015
    • Support on 09/21/2015
    • Support on 09/25/2015
    • Support on 09/30/2015
    • Support on 10/01/2015
    • Support on 10/02/2015
    • Support on 10/21/2015
    • Support on 10/22/2015
    • Resistance on 10/26/2015
    • Support on 11/06/2015
    • Resistance on 04/26/2016
    • Support on 05/02/2016
    • Support on 05/11/2016
    • Support on 07/11/2016
    • Support on 07/12/2016
    • Support on 07/13/2016
    • Support on 07/20/2016
    • Support on 08/15/2016
    • Support on 08/31/2016
    • Support on 09/06/2016
    • Support on 09/07/2016
    • Support on 09/28/2016
    • Support on 11/08/2016
    • Support on 11/09/2016
    • Resistance on 11/11/2016
    • Support on 05/05/2017
    • Resistance on 06/15/2017
    • Resistance on 06/16/2017
    • Resistance on 06/19/2017
    • Resistance on 06/28/2017
    • Resistance on 06/29/2017
    • Support on 07/05/2017
    • Support on 07/13/2017
    • Support on 12/21/2018
    • Support on 12/27/2018
    • Support on 12/28/2018
    • Support on 12/31/2018
    • Support on 01/02/2019
  • Ending of entry zone (42.60)
    • Resistance on 08/14/2015
    • Resistance on 08/17/2015
    • Support on 08/28/2015
    • Support on 11/12/2015
    • Resistance on 11/23/2015
    • Support on 11/25/2015
    • Support on 11/26/2015
    • Resistance on 12/02/2015
    • Resistance on 12/03/2015
    • Resistance on 12/04/2015
    • Resistance on 03/18/2016
    • Resistance on 04/15/2016
    • Resistance on 04/19/2016
    • Support on 07/26/2016
    • Resistance on 07/28/2016
    • Resistance on 08/04/2016
    • Resistance on 08/05/2016
    • Support on 06/22/2017
    • Support on 06/23/2017
    • Support on 06/26/2017
    • Trough on 12/26/2018
    • Support on 12/26/2018

DateFebruary 15, 2020 - 14:14
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 54.750 would begin in Midterm.

Technical analysis:

  • A trough is formed in daily chart at 49.40 on 02/04/2020, so more gains maximum to Major Resistance (54.75) 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. 48.10
  2. 50.50
  3. 54.75
  4. 57.80
  5. 60.15
  6. 63.10
  7. 66.50
  8. 72.55
  9. 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