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 09/11/2020 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Court terme: Neutral

De fond: Strongly bearish

Technical indicators

33%

28%

39%

My opinion

Bearish under 40.30 USD

My targets

36.10 USD (-3.94%)

34.00 USD (-9.52%)

My analysis

The basic trend is very bearish on WTI CRUDE OIL but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on WTI CRUDE OIL. As long as you stay below the resistance 40.30 USD, sellers” retain the upper hand. A break in the support at 36.10 USD would be a signal that the basic trend will reverse. Sellers would then use the next support located at 34.00 USD as an objective. Crossing it would then enable sellers to target 11.57 USD. If the price were to depress the resistance 40.30 USD in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a reversal of the trend.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.

Force

4.1

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

Additional analysis

Quotes

The WTI CRUDE OIL price is 37.58 USD. The price is lower by -5.51% over the 5 days and has been traded over the last 5 days between 36.13 USD and 39.59 USD. This implies that the 5 day price is +4.01% from its lowest point and -5.08% from its highest point.

36.13

39.59

37.58

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

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

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in Weekly shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: this global trend is showing signs of running out of steam given the neutral signals of short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, of the 18 technical indicators analysed by Central Analyzer, 6 are bullish, 7 are neutral and 5 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

RSI indicator is back under 50

Type : Bearish

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : Weekly

Williams %R indicator is back under -50

Type : Bearish

Timeframe : Weekly

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	11.57	37.58	42.60	51.11	63.23
Change (%)	-69.21%	-	+13.36%	+36.00%	+68.25%
Change	-26.01	-	+5.02	+13.53	+25.65
Level	Major	-	Major	Intermediate	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	36.71	36.89	37.02	37.20	37.33	37.51	37.64
Camarilla	37.06	37.08	37.11	37.14	37.17	37.20	37.23
Woodie	36.68	36.88	36.99	37.19	37.30	37.50	37.61
Fibonacci	36.89	37.01	37.09	37.20	37.32	37.40	37.51

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	34.00	36.68	38.22	40.90	42.44	45.12	46.66
Camarilla	38.61	39.00	39.38	39.77	40.16	40.54	40.93
Woodie	33.44	36.40	37.66	40.62	41.88	44.84	46.10
Fibonacci	36.68	38.29	39.29	40.90	42.51	43.51	45.12

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	36.10	37.84	40.30	42.04	44.50	46.24	48.70
Camarilla	41.61	41.99	42.38	42.76	43.15	43.53	43.92
Woodie	36.46	38.02	40.66	42.22	44.86	46.42	49.06
Fibonacci	37.84	39.44	40.44	42.04	43.64	44.64	46.24

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	46.72
MACD (12,26,9):	0.1600
Directional Movement:	-8.14
AROON (14):	85.71
DEMA (21):	38.64
Parabolic SAR (0,02-0,02-0,2):	43.78
Elder Ray (13):	-1.69
Super Trend (3,10):	30.80
Zig ZAG (10):	37.64
VORTEX (21):	1.1700
Stochastique (14,3,5):	62.05
TEMA (21):	41.65
Williams %R (14):	-66.24
Chande Momentum Oscillator (20):	-2.26
Repulse (5,40,3):	-11.0800
ROCnROLL:	2
TRIX (15,9):	-0.2600
Courbe Coppock:	65.54

MA7:	37.56
MA20:	40.74
MA50:	41.09
MA100:	37.37
MAexp7:	40.15
MAexp20:	39.20
MAexp50:	42.68
MAexp100:	47.65
Price / MA7:	+0.05%
Price / MA20:	-7.76%
Price / MA50:	-8.54%
Price / MA100:	+0.56%
Price / MAexp7:	-6.40%
Price / MAexp20:	-4.13%
Price / MAexp50:	-11.95%
Price / MAexp100:	-21.13%

Quotes : 2020-09-11 15:20:03 - 15 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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