Technical analysis WTI for 21.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 84.75. The closest resistance is the level 85.75

Key levels

• 87.00, 85.75, 84.75, 83.50, 81.75

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 85.75, with Take Profit of 87.00 and Stop Loss of 84.75

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 84.75, with Take Profit of 83.50 and Stop Loss of 85.75