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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 Sell Zone (64.70 to 66.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (64.70)
    • Support on 12/01/2014
    • Resistance on 01/15/2018
    • Resistance on 01/16/2018
    • Resistance on 01/23/2018
    • Support on 02/02/2018
    • Resistance on 02/05/2018
    • Support on 06/04/2018
    • Support on 06/05/2018
    • Support on 06/06/2018
    • Support on 06/07/2018
    • Support on 06/11/2018
    • Support on 06/19/2018
    • Support on 06/20/2018
    • Support on 06/21/2018
    • Support on 08/17/2018
    • Support on 08/20/2018
    • Support on 10/31/2018
    • Resistance on 04/09/2019
    • Resistance on 04/10/2019
  • Ending of entry zone (66.50)
    • Support on 12/02/2014
    • Support on 12/03/2014
    • Support on 12/04/2014
    • Resistance on 01/25/2018
    • Resistance on 01/29/2018
    • Resistance on 03/26/2018
    • Resistance on 03/27/2018
    • Support on 04/18/2018
    • Support on 05/29/2018
    • Support on 05/30/2018
    • Support on 05/31/2018
    • Resistance on 06/12/2018
    • Resistance on 06/13/2018
    • Support on 07/16/2018
    • Support on 07/17/2018
    • Support on 07/18/2018
    • Support on 07/19/2018
    • Support on 08/02/2018
    • Support on 08/13/2018
    • Resistance on 08/21/2018
    • Support on 10/26/2018
    • Support on 10/29/2018
    • Resistance on 10/31/2018

DateSun, 04/14/2019 - 10:52
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 66.50, beginning of downtrend is expected.
  • We make sure when the support at 55.20 breaks.
  • If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 64.65 on 04/10/2019, so more losses to support(s) 61.85, 60.15, 58.05 and 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 70.

Take Profits:

  1. 61.85
  2. 60.15
  3. 58.05
  4. 55.20
  5. 52.80
  6. 49.50
  7. 45.80
  8. 42.60
Click on the level to view price action history.

Symbol Released Current Forecast
West Texas Intermediate Oil (WTI) new Sat, 15 Jun 2019
West Texas Intermediate Oil (WTI) free Sat, 8 Jun 2019
West Texas Intermediate Oil (WTI) free Sun, 2 Jun 2019
West Texas Intermediate Oil (WTI) free Sat, 25 May 2019
West Texas Intermediate Oil (WTI) free Sat, 18 May 2019