đź’ˇ WTI - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support 93.000, resumption of uptrend is expected.
We make sure when the resistance at 126.370 breaks.
If the support at 93.000 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
While the RSI resistance #2 at 56 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 94.937 on 04/25/2022, so more gains to resistance(s) 104.157, 108.980, 115.904 and maximum to Major Resistance (126.370) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
Supports and Resistances:
126.370
115.904
104.157
93.000
84.312
73.320
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While the price is above the support 93.000, resumption of uptrend is expected.
We make sure when the resistance at 126.370 breaks.
If the support at 93.000 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
While the RSI resistance #2 at 56 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 94.937 on 04/25/2022, so more gains to resistance(s) 104.157, 108.980, 115.904 and maximum to Major Resistance (126.370) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
Supports and Resistances:
126.370
115.904
104.157
93.000
84.312
73.320
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the đź‘Ť LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
đź’Ž Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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