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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateAugust 6, 2022 - 04:14
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 83.754, resumption of uptrend is expected.
  • We make sure when the resistance at 93.000 breaks.
  • If the support at 83.754 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 100.910 on 07/29/2022, so more losses minimum to Major Support (83.754) 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 33.

Supports and Resistances:

  1. 126.350
  2. 113.136
  3. 102.600
  4. 93.000
  5. 83.754
  6. 73.320
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