Technical analysis WTI for 01.06.2023

The Tenkan-sen line is located below the Kijun-sen line. Blue is directed upwards, while red remains 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 resistance is the level 71.90. The closest support is the level 70.00

Key levels

• 74.30, 73.05, 71.90, 70.00, 68.80, 67.65

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 71.90, with Take Profit of 73.05 and Stop Loss of 70.90

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 70.00, with Take Profit of 68.80 and Stop Loss of 70.90