Technical analysis WTI for 29.08.2022

Tenkan-sen and Kijun-sen lines are merged. 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 support is the level 95.50. The closest resistance is the level 97.50

Key levels

• 99.50, 97.50, 95.50, 94.00, 92.50

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 95.50, with Take Profit of 97.50 and Stop Loss of 94.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 94.00, with Take Profit of 92.50 and Stop Loss of 95.50