Technical analysis WTI for 23.02.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 76.75. The closest resistance is the level 78.00

Key levels

• 79.00, 78.00, 76.75, 75.50, 74.25

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 76.75, with Take Profit of 75.50 and Stop Loss of 78.00

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 78.00, with Take Profit of 79.00 and Stop Loss of 76.75