WTI Crude Oil, D1

On the daily chart, the instrument is growing towards the upper border of Bollinger Bands. MACD histogram is in the positive zone, its volumes are gradually growing, and the signal line crosses the histogram’s body upwards, giving a signal to open long positions. Stochastic is ready to leave the overbought area, forming a signal to open short orders.

WTI Crude Oil, H4

On the 4-hour chart, the instrument is trading within the middle line and the upper border of Bollinger Bands and is moving upwards. MACD histogram is in the positive zone, keeping a signal to open buy orders. Stochastic has crossed the border with the overbought area upwards and is ready to reverse, forming an entry signal to open sell orders.

Key levels

Resistance levels: 67.30, 67.63, 68.00.

Support levels: 66.98, 66.65, 66.10, 65.77, 65.49.

Trading tips

Long positions can be opened in the short term at the current level with the target at 67.59 and stop loss 66.70. Implementation period: 1–3 days.

Short positions can be opened at the level of 66.55 with the target at 66.00 and stop loss 66.85. Implementation period: 3–5 days.

WTI Crude Oil

BuySellSpread
58.6658.5790

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point67.00
Take Profit67.59
Stop Loss66.70
Support levels65.49, 65.77, 66.10, 66.65, 66.98, 67.30, 67.63, 68.00

Alternative scenario

RecommendationsSELL STOP
Entry Point66.55
Take Profit66.00
Stop Loss66.85
Support levels65.49, 65.77, 66.10, 66.65, 66.98, 67.30, 67.63, 68.00
WTI Crude Oil: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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