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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup
#WTI
Total Profit: 6754 point
Closed trade(s): 3750 point Profit
Open trade(s): 3004 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.
TP3 @ 58.05 touched at 2019.05.23 with 706 point Profit.
TP4 @ 55.20 touched at 2019.05.31 with 991 point Profit.
TP5 @ 52.80 touched at 2019.06.03 with 1231 point Profit.
326 + 496 + 706 + 991 + 1231 = 3750 point

Open Profit:
Profit for one trade is 65.11(open price) - 57.60(current price) = 751 point
4 trade(s) still open, therefore total profit for open trade(s) is 751 x 4 = 3004 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.
  • If the Midterm level 60.150 is broken, we will close open trades.
  • Price may also reach 60.150, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.
DateJune 22, 2019 - 21:17
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 60.150 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 60.150 is broken.

Technical analysis:

  • While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 50.90 on 06/11/2019, so more gains to resistance(s) 58.05 and maximum to Major Resistance (60.15) 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 56.

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) Sun, 14 Apr 2024
West Texas Intermediate Oil (WTI) Sat, 6 Apr 2024
West Texas Intermediate Oil (WTI) Sat, 30 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 23 Mar 2024
West Texas Intermediate Oil (WTI) Sat, 16 Mar 2024
History
Daily-Trading-Opportunities on WTI.