Technical analysis WTI for 20.02.2024

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 ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 77.50. The closest resistance is the level 78.50

Key levels

• 79.50, 78.50, 77.50, 77.00, 76.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 78.50, with Take Profit of 79.50 and Stop Loss of 77.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 77.00, with Take Profit of 76.00 and Stop Loss of 77.25