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 crossed and fixed 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 71.75. The closest resistance is the level 72.75

Key levels

• 75.00, 73.75, 72.75, 71.75, 70.75, 69.50

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 71.75, with Take Profit of 70.75 and Stop Loss of 72.75

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 72.75, with Take Profit of 73.75 and Stop Loss of 71.75