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

#WTI
Total Profit: 6501 point
Closed trade(s): 664 point Profit
Open trade(s): 5837 point Profit

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

Closed Profit:
TP1 @ 78.29 touched at 2021.11.17 with 173 point Profit.
TP2 @ 75.11 touched at 2021.11.19 with 491 point Profit.
173 + 491 = 664 point

Open Profit:
Profit for one trade is 80.02(open price) - 75.53(current price) = 449 point
13 trade(s) still open, therefore total profit for open trade(s) is 449 x 13 = 5837 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 20, 2021 - 13:02
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 84.96, beginning of downtrend is expected.
  • We make sure when the support at 72.81 breaks.
  • If the resistance at 84.96 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) 75.11 and minimum to Major Support (72.81) 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 37.

Take Profits:

  1. 78.29
  2. 75.11
  3. 72.81
  4. 70.14
  5. 67.71
  6. 65.38
  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) new Mon, 6 Dec 2021
West Texas Intermediate Oil (WTI) free Sat, 27 Nov 2021
West Texas Intermediate Oil (WTI) free Sat, 20 Nov 2021
West Texas Intermediate Oil (WTI) free Sat, 13 Nov 2021
West Texas Intermediate Oil (WTI) Wed, 10 Nov 2021