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Trend Hunter performance since 2015 for this symbol

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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup
#WTI
Total Profit: 3111 point
Closed trade(s): 822 point Profit
Open trade(s): 2289 point Profit

Trade Setup:
We opened 9 SELL trade(s) @ 65.11 (day close price) based on 'Peak' at 2019.04.25.

Closed Profit:
TP1 @ 61.85 touched at 2019.05.02 with 326 point Profit.
TP2 @ 60.15 touched at 2019.05.06 with 496 point Profit.
326 + 496 = 822 point

Open Profit:
Profit for one trade is 65.11(open price) - 61.84(current price) = 327 point
7 trade(s) still open, therefore total profit for open trade(s) is 327 x 7 = 2289 point

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSat, 05/11/2019 - 20:50
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

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 support #1 at 43 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 66.50 on 04/23/2019, so more losses to support(s) 60.15, 58.05 and minimum to Major Support (55.20) 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 46.

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, 20 Jul 2019
West Texas Intermediate Oil (WTI) Sat, 13 Jul 2019
West Texas Intermediate Oil (WTI) Sat, 6 Jul 2019
West Texas Intermediate Oil (WTI) free Sat, 29 Jun 2019
West Texas Intermediate Oil (WTI) free Sat, 22 Jun 2019