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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

Trading suggestion:

Price is in the Trend Hunter Sell Zone (84.05 to 86.92).

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

  • Beginning of entry zone (84.05)
  • Ending of entry zone (86.92)

DateJanuary 22, 2022 - 09:22
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 86.920, beginning of downtrend is expected.
  • We make sure when the support at 67.710 breaks.
  • If the resistance at 86.920 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 86.92 on 01/20/2022, so more losses to support(s) 84.05, 82.48, 78.32 and minimum to Major Support (67.71) 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 68.

Take Profits:

  1. 82.48
  2. 78.32
  3. 75.37
  4. 72.81
  5. 70.14
  6. 67.71
  7. 65.38
  8. 61.72
  9. 58.31
  10. 52.61
  11. 50.44
  12. 48.31
  13. 43.75
  14. 40.00
  15. 34.60
Click on the level to view price action history.

Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) new Sat, 14 May 2022
West Texas Intermediate Oil (WTI) Sat, 7 May 2022
West Texas Intermediate Oil (WTI) free Sat, 30 Apr 2022
West Texas Intermediate Oil (WTI) Sat, 23 Apr 2022
West Texas Intermediate Oil (WTI) Sun, 17 Apr 2022