Technical analysis WTI for 02.11.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 89.60. The closest support is the level 87.05

Key levels

• 92.20, 91.00, 89.60, 87.05, 85.75, 83.45

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 89.60, with Take Profit of 91.00 and Stop Loss of 88.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 87.05, with Take Profit of 85.75 and Stop Loss of 88.00