Technical analysis WTI for 08.06.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are directed upwards. 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 resistance is the level 73.45. The closest support is the level 72.00
Key levels
- 75.20, 74.35, 73.45, 72.00, 71.05, 69.95
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 73.45, with Take Profit of 74.35 and Stop Loss of 72.75
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 72.00, with Take Profit of 71.05 and Stop Loss of 72.75
Scenario
Recommendation
BUY STOP
Entry Point
73.45
Take Profit
74.35
Stop Loss
72.75
Key Levels
75.20, 74.35, 73.45, 72.00, 71.05, 69.95
Alternative scenario
Recommendation
SELL STOP
Entry Point
72.00
Take Profit
71.05
Stop Loss
72.75
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.