Technical analysis WTI for 22.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 102. The closest resistance is the level 104.50

Key levels

• 108.50, 106.5, 104.50, 102, 100, 97.50

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 104.50, with Take Profit of 102 and Stop Loss of 106.50

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 106.50, with Take Profit of 108.50 and Stop Loss of 104.50