Technical analysis WTI for 08.09.2022

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 resistance is the level 86.25. The closest support is the level 81.75

Key levels

• 91.35, 89.05, 86.25, 81.75, 79.05, 76.80

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 86.25, with Take Profit of 89.05 and Stop Loss of 93.90

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 81.75, with Take Profit of 79.05 and Stop Loss of 93.90