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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (68.419 to 64.413). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (68.419)
  • Ending of entry zone (64.413)

DateSeptember 16, 2023 - 08:15
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 83.000 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 77.510 on 08/24/2023, so more gains to resistance(s) 92.888, 96.995, 100.802 and more heights 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 78.

Take Profits:

  1. 73.984
  2. 76.698
  3. 80.342
  4. 83.000
  5. 86.877
  6. 89.340
  7. 92.888
  8. 96.995
  9. 100.802
  10. 107.746
  11. 113.230
  12. 120.000
  13. 126.350
Click on the level to view price action history.

Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) Sat, 15 Jun 2024
West Texas Intermediate Oil (WTI) Sat, 8 Jun 2024
West Texas Intermediate Oil (WTI) Sat, 1 Jun 2024
West Texas Intermediate Oil (WTI) Sat, 1 Jun 2024
West Texas Intermediate Oil (WTI) Sat, 25 May 2024