Technical analysis WTI for 04.04.2022

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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 99.25. The closest resistance is the level 104.00

Key levels

• 115.25, 109.25, 104.00, 99.25, 93.75, 87.50

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 104.00, with Take Profit of 109.25 and Stop Loss of 99.25

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 99.25, with Take Profit of 93.75 and Stop Loss of 104.00