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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (45.80 to 42.60). 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 (45.80)
    • Support on 01/14/2015
    • Support on 01/15/2015
    • Support on 01/22/2015
    • Resistance on 01/27/2015
    • Resistance on 01/28/2015
    • Support on 03/16/2015
    • Support on 03/20/2015
    • Support on 03/23/2015
    • Resistance on 08/11/2015
    • Resistance on 08/28/2015
    • Resistance on 09/15/2015
    • Resistance on 09/25/2015
    • Resistance on 09/28/2015
    • Resistance on 09/29/2015
    • Resistance on 09/30/2015
    • Resistance on 10/01/2015
    • Support on 10/05/2015
    • Support on 10/15/2015
    • Support on 10/20/2015
    • Support on 11/05/2015
    • Resistance on 05/05/2016
    • Resistance on 05/09/2016
    • Support on 06/16/2016
    • Support on 06/17/2016
    • Support on 06/27/2016
    • Support on 07/06/2016
    • Resistance on 07/21/2016
    • Resistance on 09/05/2016
    • Resistance on 09/06/2016
    • Support on 09/12/2016
    • Resistance on 09/14/2016
    • Resistance on 09/21/2016
    • Support on 11/28/2016
    • Support on 05/08/2017
    • Support on 05/09/2017
    • Support on 06/07/2017
    • Support on 06/09/2017
    • Support on 06/12/2017
    • Support on 06/13/2017
    • Support on 08/31/2017
    • Support on 12/20/2018
    • Resistance on 12/24/2018
    • Resistance on 12/28/2018
    • Support on 01/03/2019
  • Ending of entry zone (42.60)
    • Support on 08/13/2015
    • Support on 08/14/2015
    • Support on 08/28/2015
    • Support on 11/12/2015
    • Resistance on 11/23/2015
    • Support on 11/25/2015
    • Support on 11/26/2015
    • Resistance on 12/02/2015
    • Resistance on 12/03/2015
    • Resistance on 12/04/2015
    • Support on 04/25/2016
    • Support on 04/26/2016
    • Support on 07/26/2016
    • Resistance on 07/28/2016
    • Resistance on 08/04/2016
    • Resistance on 08/05/2016
    • Support on 06/23/2017
    • Support on 06/26/2017
    • Trough on 12/26/2018
    • Support on 12/26/2018

DateSat, 03/09/2019 - 18:10
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 55.20, beginning of uptrend is expected.
  • We make sure when the resistance at 63.75 breaks.
  • If the support at 55.20 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 58.05 on 03/01/2019, so more losses minimum to Major Support (55.20) 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 54.

Take Profits:

  1. 49.50
  2. 52.80
  3. 55.20
  4. 60.15
  5. 63.75
  6. 66.50
  7. 76.75
Click on the level to view price action history.

Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) new Sat, 18 May 2019
West Texas Intermediate Oil (WTI) free Sat, 11 May 2019
West Texas Intermediate Oil (WTI) free Sat, 4 May 2019
West Texas Intermediate Oil (WTI) Sat, 27 Apr 2019
West Texas Intermediate Oil (WTI) Sat, 20 Apr 2019