Technical analysis WTI for 20.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are 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 107.00. The closest resistance is the level 110.40

Key levels

• 115.80,110.40, 107.00, 104.30, 101.60, 98.20, 93.50

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 110.40, with Take Profit of 115.80 and Stop Loss of 107.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 107.00, with Take Profit of 101.60 and Stop Loss of 110.40