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

#WTI
Total Profit: 0 point
Closed trade(s): 0 point Profit
Open trade(s): 0 point Profit

Trade Setup:
We opened 10 BUY trades @ 85.753 based on 'Valley' entry method at 2022-09-09.

Open Profit:
Profit for one BUY trade is 85.753(current price) - 85.753(open price) = 0 point
10 trade(s) still open, therefore total profit for open trade(s) is 0 x 10 = 0 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateSeptember 10, 2022 - 07:33
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 80.930, beginning of uptrend is expected.
  • We make sure when the resistance at 97.240 breaks.
  • If the support at 80.930 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 88.301 on 2022-07-14 and the trough at 80.927 on 2022-09-08, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 80.930 on 09/08/2022, so more gains to resistance(s) 86.442, 90.090, 94.300 and maximum to Major Resistance (97.240) 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 43.

Take Profits:

  1. 90.090
  2. 94.300
  3. 97.240
  4. 98.969
  5. 102.820
  6. 107.746
  7. 113.230
  8. 120.000
  9. 126.350
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.