Technical analysis WTI for 18.05.2022

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 adjusted to the Kijun-sen line. The closest resistance is the level 108.25. The closest support is the level 106.75

Key levels

• 111.75, 110.00, 108.25, 106.75, 105.00, 103.35

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 108.25, with Take Profit of 110.00 and Stop Loss of 107.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 106.75, with Take Profit of 105.00 and Stop Loss of 107.50