Technical analysis WTI for 17.12.2021

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively

Key levels

• 78.60, 76.40, 74.65, 73.00, 70.80, 69.10, 67.25, 65.10, 63.60

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 70.80, with Take Profit of 69.10 and Stop Loss of 72.00

Alternative scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 73.00 and Stop Loss of 69.10