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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

Trading suggestion:

Price is in the Trend Hunter Sell Zone (81.14 to 84.05).

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

  • Beginning of entry zone (81.14)
  • Ending of entry zone (84.05)

DateOctober 16, 2021 - 11:54
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 84.050, beginning of downtrend is expected.
  • We make sure when the support at 70.140 breaks.
  • If the resistance at 84.050 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 69.33 on 09/21/2021, so more gains maximum to Major Resistance (84.05) 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 75.

Take Profits:

  1. 78.89
  2. 76.39
  3. 72.81
  4. 70.14
  5. 67.71
  6. 65.10
  7. 60.60
  8. 59.40
  9. 53.90
  10. 51.60
  11. 48.75
  12. 46.30
  13. 43.75
  14. 40.00
  15. 34.60
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