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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup

#WTI:
Total Loss: 4280 point
Closed trade(s): 4280 point Loss

Trade Setup:
We opened 8 SELL trade(s) @ 63.28 (day close price) based on 'Peak' at 2021.05.19.

Total Loss:
SL @ 68.63 touched at 2021.06.02 with 535 point Loss.
Loss for one trade is 68.63(close price) - 63.28(open price) = 535 point
Therefore total loss for trades is 535 x 8 = 4280 point

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJune 5, 2021 - 22:26
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 76.750, beginning of downtrend is expected.
  • We make sure when the support at 67.850 breaks.
  • If the resistance at 76.750 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 61.50 on 05/21/2021, so more gains to resistance(s) 72.55 and maximum to Major Resistance (76.75) 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 66.

Supports and Resistances:

  1. 60.60
  2. 57.20
  3. 53.90
  4. 51.60
  5. 48.75
  6. 46.30
  7. 43.75
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