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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI
Trade Setup

#WTI
Total Profit: 2650 point
Closed trade(s): 940 point Profit
Open trade(s): 1710 point Profit

Trade Setup:
We opened 12 SELL trade(s) @ 71.10 (day close price) based on 'Peak' at 2021.08.02.

Closed Profit:
TP1 @ 67.85 touched at 2021.08.04 with 325 point Profit.
TP2 @ 64.95 touched at 2021.08.18 with 615 point Profit.
325 + 615 = 940 point

Open Profit:
Profit for one trade is 71.10(open price) - 69.39(current price) = 171 point
10 trade(s) still open, therefore total profit for open trade(s) is 171 x 10 = 1710 point

Trading suggestion:

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

DateSeptember 11, 2021 - 22:20
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 76.400, resumption of downtrend is expected.
  • We make sure when the support at 61.750 breaks.
  • If the resistance at 76.400 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • A trough is formed in daily chart at 61.74 on 08/20/2021, so more gains to resistance(s) 70.25, 72.55, 73.85 and maximum to Major Resistance (76.40) 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 54.

Take Profits:

  1. 67.85
  2. 64.95
  3. 60.60
  4. 57.20
  5. 53.90
  6. 51.60
  7. 48.75
  8. 46.30
  9. 43.75
  10. 40.00
  11. 34.60
Click on the level to view price action history.

Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) new 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
West Texas Intermediate Oil (WTI) Sat, 17 Feb 2024