Technical analysis WTI for 25.01.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 83.5. The closest resistance is the level 86.00

Key levels

• 88.50, 86.00, 83.50, 81.75, 79.75, 78.00, 75.00, 72.75, 70.75

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 83.50, with Take Profit of 81.75 and Stop Loss of 84.90

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 86.00, with Take Profit of 88.50 and Stop Loss of 84.00