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

#WTI
Total Profit: 6205 point
Closed trade(s): 525 point Profit
Open trade(s): 5680 point Profit

Trade Setup:
We opened 12 BUY trades @ 67.91 based on 'Two-Day Reversal Candle (Hammer)' entry method at 2024-12-09.

Closed Profit:
TP1 @ 68.800 touched at 2024-12-11 with 89 point Profit.
TP2 @ 72.270 touched at 2025-01-02 with 436 point Profit.
89 + 436 = 525 point

Open Profit:
Profit for one BUY trade is 73.589(current price) - 67.91(open price) = 568 point
10 trade(s) still open, therefore total profit for open trade(s) is 568 x 10 = 5680 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.
DateJanuary 3, 2025 - 22:24
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 64.000, resumption of uptrend is expected.
  • We make sure when the resistance at 77.920 breaks.
  • If the support at 64.000 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 66.510 on 11/18/2024, so more gains to resistance(s) 75.446 and maximum to Major Resistance (77.920) 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 69.

Take Profits:

  1. 68.800
  2. 72.270
  3. 75.446
  4. 77.920
  5. 80.100
  6. 83.961
  7. 87.000
  8. 93.882
  9. 100.802
  10. 109.192
  11. 126.350
Click on the level to view price action history.
Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) free Sat, 11 Jan 2025
West Texas Intermediate Oil (WTI) free Fri, 3 Jan 2025
West Texas Intermediate Oil (WTI) Sat, 28 Dec 2024
West Texas Intermediate Oil (WTI) free Sat, 21 Dec 2024
West Texas Intermediate Oil (WTI) free Sat, 14 Dec 2024
History
Daily-Trading-Opportunities on WTI.