Technical analysis WTI for 22.01.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 74.00. The closest resistance is the level 74.75

Key levels

• 76.75, 75.75, 74.75, 74.00, 73.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 74.75, with Take Profit of 75.75 and Stop Loss of 74.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 74.00, with Take Profit of 73.00 and Stop Loss of 74.75