Technical analysis WTI for 08.06.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 resistance is the level 121.45. The closest support is the level 117.75

Key levels

• 126.75, 123.25, 121.45, 117.75, 115.75, 112.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 121.45, with Take Profit of 123.25 and Stop Loss of 119.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 117.75, with Take Profit of 115.75 and Stop Loss of 119.00