Technical analysis WTI for 20.04.2022

The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. Strong resistance is the merged Tenkan-se and Kijun-sen lines. The closest support is the level 102.50

Key levels

• 115.25, 110.75, 107.00, 102.50, 98.50, 93.50

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 102.50, with Take Profit of 107.00 and Stop Loss of 98.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 98.50, with Take Profit of 93.50 and Stop Loss of 102.50