Technical analysis WTI for 16.05.2022

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 support is the level 108.25. The closest resistance is the level 110.00

Key levels

• 113.00, 111.75, 110.00, 108.25, 106.75, 105.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 110.00, with Take Profit of 111.75 and Stop Loss of 108.25

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 108.25, with Take Profit of 106.75 and Stop Loss of 108.80