Technical analysis WTI for 20.02.2024
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
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
Scenario
Recommendation
BUY STOP
Entry Point
78.50
Take Profit
79.50
Stop Loss
77.50
Key Levels
79.50, 78.50, 77.50, 77.00, 76.00
Alternative scenario
Recommendation
SELL STOP
Entry Point
77.00
Take Profit
76.00
Stop Loss
77.25
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.