WTI oil: Trading recommendations

Yuri Papshev Independent Analyst

WTI oil is traded in the bull market zone. Therefore, the decline to the support levels 69.02, 68.00, 66.35, 64.00 provides an opportunity to build up long positions.

A breakdown of the local resistance level 70.78 (the maximum of this week and month) will become a confirmation signal for further price growth.

Support levels: 70.00, 69.02, 68.00, 66.35, 64.00, 61.75, 60.61, 58.70, 56.00, 52.00.

Resistance levels: 70.78, 71.00, 73.00, 77.00.

Trading recommendations

Sell Stop 69.60. Stop-Loss 70.80. Take-Profit 69.02, 68.00, 66.35, 64.00, 61.75, 60.61, 58.70, 56.00, 52.00.

Buy Stop 70.80. Stop-Loss 69.60. Take-Profit 71.00, 72.00, 73.00, 77.00.

Author

Yuri Papshev

Independent Analyst

Independent trader and analyst at Forex market. Trade experience - more than 10 years. In trade Yuri Papshev uses a combination of fundamental and technical analysis.

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