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Weekly forecast West Texas Intermediate Oil technical chart
Symbol WTI

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Trade Setup
#WTI:
Total Loss: 2247 point
Closed trade(s): 2247 point Loss

Trade Setup:
We opened 7 SELL trade(s) @ 41.55 based on 'Shooting star' entry method at 2020.11.11.

Total Loss:
SL @ 44.77 touched at 2020.11.24 with 321 point Loss.
Loss for one trade is 44.77(close price) - 41.55(open price) = 321 point
Therefore total loss for trades is 321 x 7 = 2247 point

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateNovember 28, 2020 - 12:51
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 43.750 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI resistance #1 at 65 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains to resistance(s) 46.30, 48.70, 50.70 and more heights 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 68.

Supports and Resistances:

  1. 63.10
  2. 54.75
  3. 50.70
  4. 39.70
  5. 38.15
  6. 36.30
  7. 34.60
  8. 30.85
  9. 7.85
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.