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

#WTI
Total Profit: 6415 point
Closed trade(s): 5065 point Profit
Open trade(s): 1350 point Profit

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

Closed Profit:
TP1 @ 78.32 touched at 2021.11.15 with 170 point Profit.
TP2 @ 75.11 touched at 2021.11.19 with 491 point Profit.
TP3 @ 72.81 touched at 2021.11.26 with 721 point Profit.
TP4 @ 70.14 touched at 2021.11.26 with 988 point Profit.
TP5 @ 67.71 touched at 2021.11.26 with 1231 point Profit.
TP6 @ 65.38 touched at 2021.11.30 with 1464 point Profit.
170 + 491 + 721 + 988 + 1231 + 1464 = 5065 point

Open Profit:
Profit for one trade is 80.02(open price) - 78.52(current price) = 150 point
9 trade(s) still open, therefore total profit for open trade(s) is 150 x 9 = 1350 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.
DateJanuary 8, 2022 - 10:53
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 84.960, resumption of downtrend is expected.
  • We make sure when the support at 67.710 breaks.
  • If the resistance at 84.960 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 60 is broken, so the probability of resumption of downtrend is decreased.
  • A trough is formed in daily chart at 74.10 on 01/03/2022, so more gains to resistance(s) 82.48 and maximum to Major Resistance (84.96) 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 62.

Take Profits:

  1. 78.32
  2. 75.11
  3. 72.81
  4. 70.14
  5. 67.71
  6. 65.38
  7. 61.72
  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 Sun, 14 Apr 2024
West Texas Intermediate Oil (WTI) Sat, 6 Apr 2024
West Texas Intermediate Oil (WTI) Sat, 30 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 23 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 16 Mar 2024
History
Daily-Trading-Opportunities on WTI.