Technical analysis WTI for 29.11.2022

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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 76.75. The closest resistance is the level 79.50

Key levels

• 85.00, 81.75, 79.50, 76.75, 73.50

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 79.50, with Take Profit of 76.75 and Stop Loss of 81.75

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 81.75, with Take Profit of 85.00 and Stop Loss of 79.50