Technical analysis WTI for 14.12.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 71.00. The closest resistance is the level 72.75

Key levels

• 76.25, 74.25, 72.75, 71.00, 69.50

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 72.75, with Take Profit of 71.00 and Stop Loss of 74.25

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 74.25, with Take Profit of 76.25 and Stop Loss of 72.75