Technical analysis WTI for 29.05.2023
The Tenkan-sen line is located below the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 73.50. The closest support is the level 71.80
Key levels
- 75.60, 74.40, 73.50, 71.80, 70.60, 69.20
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 73.50, with Take Profit of 74.40 and Stop Loss of 73.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 71.80, with Take Profit of 70.60 and Stop Loss of 73.00
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.