WTI CRUDE OIL
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 - 1H - Technical analysis published on 09/15/2020 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Court terme: Strongly bullish
De fond: Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 37.66 USD
My targets
38.55 USD (+0.73%)
40.22 USD (+5.10%)
My analysis
WTI CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 37.66 USD. The next resistance located at 38.55 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 40.22 USD. After this resistance, buyers could then target 41.87 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2

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:
15 min. Daily Weekly

Additional analysis

Quotes

WTI CRUDE OIL rating 38.27 USD. The price registered an increase of +2.71% on the session and was traded between 37.06 USD and 38.57 USD over the period. The price is currently at +3.26% from its lowest and -0.78% from its highest.

37.06
38.57
38.27

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, which identifies the highest / lowest, has detected an element:

Central Records

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of WTI CRUDE OIL in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


RSI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour


Price is back under the pivot point

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
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 36.13 36.83 37.66 38.27 38.55 40.22 41.87
Change (%) -5.59% -3.76% -1.59% - +0.73% +5.10% +9.41%
Change -2.14 -1.44 -0.61 - +0.28 +1.95 +3.60
Level Minor Intermediate Intermediate - Minor Minor Minor



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
Standard36.9037.0237.1337.2537.3637.4837.59
Camarilla37.1837.2037.2237.2437.2637.2837.30
Woodie36.9037.0237.1337.2537.3637.4837.59
Fibonacci37.0237.1137.1637.2537.3437.3937.48


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard32.3234.2235.7837.6839.2441.1442.70
Camarilla36.3836.7037.0137.3337.6537.9638.28
Woodie32.1434.1435.6037.6039.0641.0642.52
Fibonacci34.2235.5536.3637.6839.0139.8241.14


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard36.1037.8440.3042.0444.5046.2448.70
Camarilla41.6141.9942.3842.7643.1543.5343.92
Woodie36.4638.0240.6642.2244.8646.4249.06
Fibonacci37.8439.4440.4442.0443.6444.6446.24

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): 63.62
MACD (12,26,9): 0.2500
Directional Movement: 12.01
AROON (14): 71.42
DEMA (21): 38.07
Parabolic SAR (0,02-0,02-0,2): 37.72
Elder Ray (13): 0.39
Super Trend (3,10): 37.42
Zig ZAG (10): 38.24
VORTEX (21): 1.1600
Stochastique (14,3,5): 86.31
TEMA (21): 38.27
Williams %R (14): -20.53
Chande Momentum Oscillator (20): 1.06
Repulse (5,40,3): 0.3900
ROCnROLL: 1
TRIX (15,9): 0.0600
Courbe Coppock: 4.47
MA7: 37.54
MA20: 40.22
MA50: 40.99
MA100: 37.79
MAexp7: 38.13
MAexp20: 37.78
MAexp50: 37.56
MAexp100: 37.70
Price / MA7: +1.94%
Price / MA20: -4.85%
Price / MA50: -6.64%
Price / MA100: +1.27%
Price / MAexp7: +0.37%
Price / MAexp20: +1.30%
Price / MAexp50: +1.89%
Price / MAexp100: +1.51%

Quotes : 2020-09-15 19:57:54 - 15 min delayed data - NYMEX Futures

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

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