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

#WTI
Total Profit: 615 point
Closed trade(s): 0 point Profit
Open trade(s): 615 point Profit

Trade Setup:
We opened 15 SELL trade(s) @ 80.02 based on 'Peak' at 2021.11.10.

Open Profit:
Profit for one trade is 80.02(open price) - 79.61(current price) = 41 point
15 trade(s) still open, therefore total profit for open trade(s) is 41 x 15 = 615 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.

DateNovember 13, 2021 - 06:36
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 84.960, beginning of downtrend is expected.
  • We make sure when the support at 76.400 breaks.
  • If the resistance at 84.960 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 83.57 on 11/10/2021, so more losses to support(s) 78.29 and minimum to Major Support (76.40) 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 48.

Take Profits:

  1. 78.29
  2. 76.40
  3. 72.81
  4. 70.14
  5. 67.71
  6. 65.10
  7. 61.98
  8. 58.31
  9. 52.61
  10. 50.44
  11. 48.31
  12. 43.75
  13. 40.00
  14. 34.60
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