Technical analysis WTI for 31.08.2023
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. 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 support is the level 82.25. The closest resistance is the level 83.25
Key levels
- 84.25, 83.25, 82.25, 81.00, 80.00
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 83.25, with Take Profit of 84.25 and Stop Loss of 82.25
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 82.25, with Take Profit of 81.00 and Stop Loss of 83.25
Scenario
Recommendation
BUY STOP
Entry Point
83.25
Take Profit
84.25
Stop Loss
82.25
Key Levels
84.25, 83.25, 82.25, 81.00, 80.00
Alternative scenario
Recommendation
SELL STOP
Entry Point
82.25
Take Profit
81.00
Stop Loss
83.25
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.