Technical analysis WTI for 08.06.2023

Tenkan-sen and Kijun-sen lines are merged. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 73.45. The closest support is the level 72.00

Key levels

• 75.20, 74.35, 73.45, 72.00, 71.05, 69.95

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 73.45, with Take Profit of 74.35 and Stop Loss of 72.75

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 72.00, with Take Profit of 71.05 and Stop Loss of 72.75