Technical analysis WTI for 06.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 92.65. The closest resistance is the level 95.00

Key levels

• 107.30, 102.70, 98.00, 95.00, 92.65, 89.40

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 92.65, with Take Profit of 89.40 and Stop Loss of 95.00

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 95.00, with Take Profit of 98.00 and Stop Loss of 92.65