Technical analysis WTI for 31.05.2023

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 below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 71.60. The closest support is the level 68.65

Key levels

• 74.30, 72.90, 71.60, 68.65, 67.20, 65.80

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 71.60, with Take Profit of 72.90 and Stop Loss of 70.15

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 68.65, with Take Profit of 67.20 and Stop Loss of 70.15