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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (51.30 to 49.50). 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 (51.30)
    • Resistance on 01/15/2015
    • Resistance on 02/05/2015
    • Resistance on 02/11/2015
    • Resistance on 02/12/2015
    • Resistance on 02/25/2015
    • Resistance on 02/26/2015
    • Resistance on 03/06/2015
    • Resistance on 03/09/2015
    • Resistance on 03/10/2015
    • Resistance on 04/01/2015
    • Resistance on 04/02/2015
    • Support on 04/08/2015
    • Support on 04/10/2015
    • Support on 07/07/2015
    • Support on 07/08/2015
    • Support on 07/14/2015
    • Resistance on 07/20/2015
    • Resistance on 07/21/2015
    • Resistance on 10/09/2015
    • Resistance on 10/12/2016
    • Resistance on 10/14/2016
    • Support on 12/15/2016
    • Support on 01/10/2017
    • Resistance on 03/09/2017
    • Resistance on 05/22/2017
    • Support on 09/28/2017
    • Support on 09/29/2017
    • Resistance on 10/05/2017
    • Resistance on 10/10/2017
    • Resistance on 10/11/2017
    • Resistance on 10/12/2017
    • Support on 10/19/2017
    • Support on 10/20/2017
    • Support on 11/27/2018
    • Support on 12/06/2018
    • Support on 12/07/2018
  • Ending of entry zone (49.50)
    • Support on 01/05/2015
    • Resistance on 01/15/2015
    • Resistance on 01/16/2015
    • Resistance on 01/19/2015
    • Support on 02/03/2015
    • Support on 03/03/2015
    • Support on 03/04/2015
    • Support on 03/06/2015
    • Support on 03/09/2015
    • Support on 03/10/2015
    • Resistance on 03/25/2015
    • Resistance on 03/30/2015
    • Resistance on 07/29/2015
    • Resistance on 07/30/2015
    • Resistance on 08/31/2015
    • Resistance on 09/01/2015
    • Resistance on 10/06/2015
    • Resistance on 10/07/2015
    • Resistance on 05/27/2016
    • Resistance on 06/02/2016
    • Resistance on 06/03/2016
    • Support on 06/07/2016
    • Resistance on 06/20/2016
    • Resistance on 07/04/2016
    • Resistance on 08/19/2016
    • Resistance on 10/03/2016
    • Resistance on 10/04/2016
    • Support on 10/10/2016
    • Support on 10/25/2016
    • Resistance on 11/22/2016
    • Resistance on 11/30/2016
    • Support on 12/01/2016
    • Support on 03/09/2017
    • Resistance on 03/20/2017
    • Resistance on 03/21/2017
    • Support on 03/30/2017
    • Support on 04/21/2017
    • Resistance on 05/01/2017
    • Resistance on 05/02/2017
    • Resistance on 05/15/2017
    • Resistance on 05/16/2017
    • Resistance on 05/17/2017
    • Support on 05/19/2017
    • Support on 05/29/2017
    • Support on 05/30/2017
    • Resistance on 08/08/2017
    • Resistance on 09/06/2017
    • Resistance on 09/07/2017
    • Resistance on 09/08/2017
    • Support on 10/09/2017
    • Trough on 11/29/2018
    • Support on 11/29/2018
    • Support on 11/30/2018

DateDecember 10, 2018 - 08:35
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • The current trend is downtrend but the forecast is beginning of uptrend.

Technical analysis:

  • While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 54.65 on 12/04/2018, so more losses minimum to Trend Hunter Buy Zone (51.30 to 49.50) 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 39.

Take Profits:

  1. 54.35
  2. 56.00
  3. 58.05
  4. 59.90
  5. 61.85
  6. 63.90
  7. 66.50
  8. 76.75
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