Technical analysis WTI for 04.09.2024

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 69.50. The closest resistance is the level 70.50

Key levels

• 72.75, 71.50, 70.50, 69.50, 68.50

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 70.50, with Take Profit of 69.50 and Stop Loss of 71.50

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 71.50, with Take Profit of 72.75 and Stop Loss of 70.50