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

#WTI
Total Profit: 5039 point
Closed trade(s): 5039 point Profit
Open trade(s): 0 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 @ 75.37 touched at 2021.11.19 with 465 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 + 465 + 721 + 988 + 1231 + 1464 = 5039 point

9 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

Price is in the Trend Hunter Sell Zone (82.48 to 84.96).

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (82.48)
  • Ending of entry zone (84.96)
DateJanuary 15, 2022 - 09:18
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:

  • A trough is formed in daily chart at 74.10 on 01/03/2022, so more gains 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 70.

Take Profits:

  1. 78.32
  2. 75.37
  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) 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.