Technical analysis WTI for 04.10.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 85.00. The closest resistance is the level 86.25
Key levels
- 87.75, 86.25, 85.00, 83.75, 82.75
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 85.00, with Take Profit of 83.75 and Stop Loss of 86.25
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 86.25, with Take Profit of 87.75 and Stop Loss of 85.00
Scenario
Recommendation
SELL STOP
Entry Point
85.00
Take Profit
83.75
Stop Loss
86.25
Key Levels
87.75, 86.25, 85.00, 83.75, 82.75
Alternative scenario
Recommendation
BUY STOP
Entry Point
86.25
Take Profit
87.75
Stop Loss
85.00
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.