Technical analysis WTI for 10.05.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 75.70. The closest support is the level 71.50

Key levels

• 80.70, 77.70, 75.70, 71.50, 69.10, 64.05

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 75.70, with Take Profit of 77.70 and Stop Loss of 73.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 71.50, with Take Profit of 69.10 and Stop Loss of 73.50