Technical analysis WTI for 05.06.2023
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 76.00. The closest support is the level 73.20
Key levels
- 77.25, 76.75, 76.00, 73.20, 72.40, 71.45
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 76.00, with Take Profit of 76.75 and Stop Loss of 74.20
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 73.20, with Take Profit of 72.40 and Stop Loss of 74.20
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.