Technical analysis WTI for 20.05.2022
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below 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 107.00. The closest resistance is the level 110.40
Key levels
- 115.80,110.40, 107.00, 104.30, 101.60, 98.20, 93.50
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 110.40, with Take Profit of 115.80 and Stop Loss of 107.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 107.00, with Take Profit of 101.60 and Stop Loss of 110.40
Scenario
Recommendation
BUY STOP
Entry Point
110.40
Take Profit
115.80
Stop Loss
107.00
Key Levels
115.80,110.40, 107.00, 104.30, 101.60, 98.20, 93.50
Alternative scenario
Recommendation
SELL STOP
Entry Point
107.00
Take Profit
101.60
Stop Loss
110.40
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.