WTI Crude Oil: technical analysis
28 June 2019, 11:08
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 58.97 |
| Take Profit | 59.70 |
| Stop Loss | 58.70 |
| Key Levels | 55.20, 56.40, 57.26, 58.03, 58.64, 59.73, 61.14 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 58.00 |
| Take Profit | 57.40 |
| Stop Loss | 58.40 |
| Key Levels | 55.20, 56.40, 57.26, 58.03, 58.64, 59.73, 61.14 |
WTI Crude Oil, H4
On the H4 chart, the instrument corrected to the lower border of Bollinger Bands, the uptrend is still in force; the indicator cloud is narrowing, indicating a possible beginning of the formation of a lateral trend. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is in the neutral zone, and the lines of the oscillator have reversed downwards.
WTI Crude Oil, D1
On the D1 chart, there is a change in trend from downward to upward one; the instrument is trading near the upper border of Bollinger Bands, the indicator cloud is expanding. MACD histogram is near the zero level, and its volume is minimal, the signal line is directed upwards. Stochastic is in the overbought zone, and the lines of the oscillator are moving horizontally.
Key levels
Support levels: 58.64, 58.03, 57.26, 56.40, 55.20.
Resistance levels: 59.73, 61.14.
Trading tips
According to technical indicators, in the short term, long positions could be opened from the current level with the target at 59.70 and stop loss at 58.70.
Short positions may be opened from the level of 58.00 with the target at 57.40 and stop loss at 58.40.
Implementation period: 1-3 days.
On the H4 chart, the instrument corrected to the lower border of Bollinger Bands, the uptrend is still in force; the indicator cloud is narrowing, indicating a possible beginning of the formation of a lateral trend. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is in the neutral zone, and the lines of the oscillator have reversed downwards.
WTI Crude Oil, D1
On the D1 chart, there is a change in trend from downward to upward one; the instrument is trading near the upper border of Bollinger Bands, the indicator cloud is expanding. MACD histogram is near the zero level, and its volume is minimal, the signal line is directed upwards. Stochastic is in the overbought zone, and the lines of the oscillator are moving horizontally.
Key levels
Support levels: 58.64, 58.03, 57.26, 56.40, 55.20.
Resistance levels: 59.73, 61.14.
Trading tips
According to technical indicators, in the short term, long positions could be opened from the current level with the target at 59.70 and stop loss at 58.70.
Short positions may be opened from the level of 58.00 with the target at 57.40 and stop loss at 58.40.
Implementation period: 1-3 days.
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