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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJune 25, 2022 - 10:14
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 97.120, resumption of uptrend is expected.
  • We make sure when the resistance at 126.350 breaks.
  • If the support at 97.120 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 42 is broken, so the probability of resumption of uptrend is decreased.
  • While the RSI resistance #2 at 61 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 121.320 on 06/08/2022, so more losses to support(s) 100.954 and minimum to Major Support (97.120) 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 41.

Supports and Resistances:

  1. 126.350
  2. 111.486
  3. 100.954
  4. 93.000
  5. 84.312
  6. 73.320
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