Technical analysis WTI for 16.05.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 73.30. The closest support is the level 68.85

Key levels

• 77.70, 75.70, 73.30, 68.85, 66.90, 64.05

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 73.30, with Take Profit of 75.70 and Stop Loss of 71.25

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 68.85, with Take Profit of 66.90 and Stop Loss of 71.25