Technical analysis WTI for 18.10.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 79.50. The closest resistance is the level 82.50
Key levels
- 86.50, 84.50, 82.50, 79.50, 76.75
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 82.50, with Take Profit of 79.50 and Stop Loss of 84.50
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 84.50, with Take Profit of 86.50 and Stop Loss of 82.50
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.