Technical analysis WTI for 02.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 113.80. The closest resistance is the level 116.80

Key levels

• 126.50, 120.50, 116.80, 113.80, 111.00, 107.10, 101.20

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 116.80, with Take Profit of 120.50 and Stop Loss of 113.80

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 113.80, with Take Profit of 107.10 and Stop Loss of 116.80