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 - Weekly - Technical analysis published on 06/14/2020 (GMT)

Londinia

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Timeframe : Weekly
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Court terme: Neutral

De fond: Bearish

Technical indicators

56%

11%

33%

My opinion

Bearish under 41.54 USD

My targets

29.80 USD (-17.82%)

23.69 USD (-34.66%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 41.54 USD remains possible. It is advisable to trade WTI CRUDE OIL with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 41.54 USD. The next bearish objective for sellers is set at 29.80 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 23.69 USD. In case of crossing, the next objective would be the support located at 11.57 USD. PS: if there is a bullish break in the resistance located at 41.54 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

FORCE

1.8

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 Twills29. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL price is 36.26 USD. The price registered a decrease of -8.32% over 5 days with the lowest point at 34.48 USD and the highest point at 39.91 USD. The deviation from the price is +5.16% for the low point and -9.15% for the high point.

34.48

39.91

36.26

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Weekly chart of WTI CRUDE OIL indicates that the overall trend is bearish. The signals given by moving averages are 75.00% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : Weekly

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Weekly

The technical indicators are bullish. There is still some doubt about the price increase.
But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

RSI indicator is back over 50

Type : Bullish

Timeframe : Weekly

SuperTrend indicator bullish reversal

Type : Bullish

Timeframe : Weekly

Momentum indicator is back over 0

Type : Bullish

Timeframe : Weekly

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

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	11.57	36.26	42.60	51.24	66.25
Change (%)	-68.09%	-	+17.48%	+41.31%	+82.71%
Change	-24.69	-	+6.34	+14.98	+29.99
Level	Major	-	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	34.81	36.38	37.29	38.86	39.77	41.34	42.25
Camarilla	37.51	37.74	37.96	38.19	38.42	38.65	38.87
Woodie	34.47	36.22	36.95	38.70	39.43	41.18	41.91
Fibonacci	36.38	37.33	37.92	38.86	39.81	40.40	41.34

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	27.87	29.50	32.50	34.13	37.13	38.76	41.76
Camarilla	34.22	34.64	35.07	35.49	35.91	36.34	36.76
Woodie	28.55	29.84	33.18	34.47	37.81	39.10	42.44
Fibonacci	29.50	31.27	32.37	34.13	35.90	37.00	38.76

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	5.84	11.95	23.69	29.80	41.54	47.65	59.39
Camarilla	30.53	32.17	33.80	35.44	37.08	38.71	40.35
Woodie	8.67	13.36	26.52	31.21	44.37	49.06	62.22
Fibonacci	11.95	18.77	22.98	29.80	36.62	40.83	47.65

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):	51.85
MACD (12,26,9):	-5.6200
Directional Movement:	-5.79
AROON (14):	-57.14
DEMA (21):	26.91
Parabolic SAR (0,02-0,02-0,2):	11.54
Elder Ray (13):	4.85
Super Trend (3,10):	15.61
Zig ZAG (10):	39.55
VORTEX (21):	0.8600
Stochastique (14,3,5):	65.59
TEMA (21):	25.75
Williams %R (14):	-21.61
Chande Momentum Oscillator (20):	7.82
Repulse (5,40,3):	41.1100
ROCnROLL:	-1
TRIX (15,9):	-2.3500
Courbe Coppock:	56.36

MA7:	37.66
MA20:	34.01
MA50:	25.96
MA100:	34.50
MAexp7:	31.88
MAexp20:	34.99
MAexp50:	44.20
MAexp100:	49.90
Price / MA7:	-3.72%
Price / MA20:	+6.62%
Price / MA50:	+39.68%
Price / MA100:	+5.10%
Price / MAexp7:	+13.74%
Price / MAexp20:	+3.63%
Price / MAexp50:	-17.96%
Price / MAexp100:	-27.33%

Quotes : 2020-06-12 00:00:00 - End-of-day 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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