Trading-Forex

WTI oil: TRADING RECOMMENDATIONS

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Above the support level 51.69, nothing threatens long positions, and in case of resumption of positive dynamics, and after the breakdown of the local resistance level 53.87 (12-month highs), the growth of the WTI oil price will continue towards the resistance level 55.30 (ЕМА200 on the monthly chart) and, possibly, above (see “Current fundamental and technical analysis”)


. The first signal for the implementation of alternative scenario will be a breakout of the important short-term support level 51.69 (ЕМА200 on the 1-hour chart).

Support levels: 51.69, 49.80, 48.23, 42.90, 41.90, 36.05, 34.50

Resistance levels: 53.87, 55.30, 59.50

 

Trading recommendations

Sell ​​Stop 51.60. Stop-Loss 52.75. Take-Profit 51.00, 49.80, 48.23, 42.90, 41.90, 36.05, 34.50

Buy by market. Buy Stop 53.30. Stop-Loss 40.80. Take-Profit 53.87, 55.30, 57.00, 58.00, 59.50

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