Technical analysis WTI for 02.09.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 86.25. The closest resistance is the level 89.05

Key levels

• 96.70, 93.65, 91.35, 89.05, 86.25, 81.75

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 89.05, with Take Profit of 93.65 and Stop Loss of 86.25

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 86.25, with Take Profit of 81.75 and Stop Loss of 89.05