WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	WBS
ISIN:

WTI CRUDE OIL - Daily - Technical analysis published on 04/17/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

22%

39%

My opinion

Bullish above 79.69 USD

My targets

84.16 USD (+1.62%)

86.99 USD (+5.04%)

My analysis

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WTI CRUDE OIL. As long as you are above the support located at 79.69 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 84.16 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 86.99 USD as an objective. Crossing it would then enable buyers to target 90.79 USD. If the support 79.69 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.

In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.

Force

2.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Ralhosni. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL price is 82.82 USD. The price has increased by +0.16% since the last closing and was traded between 82.75 USD and 82.89 USD over the period. The price is currently at +0.08% from its lowest and -0.08% from its highest.

82.75

82.89

82.82

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner for higher/lower results shows an item:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this WTI CRUDE OIL chart shows a bullish trend. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : Daily

On the 18 technical indicators analysed, 4 are bullish, 7 are neutral and 7 are bearish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	69.66	76.99	79.69	82.82	84.16	86.99	90.79
Change (%)	-15.89%	-7.04%	-3.78%	-	+1.62%	+5.04%	+9.62%
Change	-13.16	-5.83	-3.13	-	+1.34	+4.17	+7.97
Level	Major	Major	Minor	-	Major	Major	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	78.81	80.68	81.77	83.64	84.73	86.60	87.69
Camarilla	82.05	82.32	82.59	82.86	83.13	83.40	83.67
Woodie	78.42	80.49	81.38	83.45	84.34	86.41	87.30
Fibonacci	80.68	81.81	82.51	83.64	84.77	85.47	86.60

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	81.13	82.84	84.25	85.96	87.37	89.08	90.49
Camarilla	84.80	85.09	85.37	85.66	85.95	86.23	86.52
Woodie	80.98	82.77	84.10	85.89	87.22	89.01	90.34
Fibonacci	82.84	84.03	84.77	85.96	87.15	87.89	89.08

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	70.17	73.19	78.45	81.47	86.73	89.75	95.01
Camarilla	81.43	82.19	82.95	83.71	84.47	85.23	85.99
Woodie	71.29	73.75	79.57	82.03	87.85	90.31	96.13
Fibonacci	73.19	76.35	78.31	81.47	84.63	86.59	89.75

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	48.80
MACD (12,26,9):	1.2100
Directional Movement:	0.44
AROON (14):	71.43
DEMA (21):	85.66
Parabolic SAR (0,02-0,02-0,2):	87.40
Elder Ray (13):	-1.50
Super Trend (3,10):	81.83
Zig ZAG (10):	82.79
VORTEX (21):	1.0100
Stochastique (14,3,5):	31.34
TEMA (21):	85.25
Williams %R (14):	-95.31
Chande Momentum Oscillator (20):	-2.36
Repulse (5,40,3):	-3.2300
ROCnROLL:	-1
TRIX (15,9):	0.3200
Courbe Coppock:	5.13

MA7:	84.75
MA20:	84.13
MA50:	80.40
MA100:	76.01
MAexp7:	84.28
MAexp20:	83.78
MAexp50:	80.97
MAexp100:	78.64
Price / MA7:	-2.28%
Price / MA20:	-1.56%
Price / MA50:	+3.01%
Price / MA100:	+8.96%
Price / MAexp7:	-1.73%
Price / MAexp20:	-1.15%
Price / MAexp50:	+2.28%
Price / MAexp100:	+5.32%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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