WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

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Change:	-
Volume:	-

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Type:	Commodities
Ticker:	WBS
ISIN:

WTI CRUDE OIL - Weekly - Technical analysis published on 09/18/2020 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Neutral

De fond: Bearish

Technical indicators

50%

44%

My opinion

Bearish under 42.60 USD

My targets

36.10 USD (-12.06%)

32.32 USD (-21.27%)

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 under the resistance located at 42.60 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 36.10 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 32.32 USD as an objective. Crossing it would then enable sellers to target 11.57 USD. If the resistance 42.60 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.

In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.

Force

1.1

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

WTI CRUDE OIL rating 41.05 USD. The price registered an increase of +9.97% over 5 days and has been traded over the last 5 days between 36.82 USD and 41.22 USD. This implies that the 5 day price is +11.49% from its lowest point and -0.41% from its highest point.

36.82

41.22

41.05

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

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

Technical

Technical analysis of WTI CRUDE OIL in Weekly shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase is slight given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

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 1

Type : Neutral

Timeframe : Weekly

RSI indicator is back under 50

Type : Bearish

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : Weekly

Williams %R indicator is back under -50

Type : Bearish

Timeframe : Weekly

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

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

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	11.57	41.05	42.60	51.11	63.23
Change (%)	-71.81%	-	+3.78%	+24.51%	+54.03%
Change	-29.48	-	+1.55	+10.06	+22.18
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	40.51	40.66	40.89	41.04	41.27	41.42	41.65
Camarilla	41.03	41.06	41.10	41.13	41.17	41.20	41.24
Woodie	40.56	40.68	40.94	41.06	41.32	41.44	41.70
Fibonacci	40.66	40.80	40.89	41.04	41.18	41.27	41.42

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	32.32	34.22	35.78	37.68	39.24	41.14	42.70
Camarilla	36.38	36.70	37.01	37.33	37.65	37.96	38.28
Woodie	32.14	34.14	35.60	37.60	39.06	41.06	42.52
Fibonacci	34.22	35.55	36.36	37.68	39.01	39.82	41.14

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 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):	52.26
MACD (12,26,9):	0.2300
Directional Movement:	-4.49
AROON (14):	71.43
DEMA (21):	38.96
Parabolic SAR (0,02-0,02-0,2):	43.57
Elder Ray (13):	-0.57
Super Trend (3,10):	30.80
Zig ZAG (10):	41.05
VORTEX (21):	1.3300
Stochastique (14,3,5):	53.53
TEMA (21):	41.90
Williams %R (14):	-28.45
Chande Momentum Oscillator (20):	2.61
Repulse (5,40,3):	4.4100
ROCnROLL:	-1
TRIX (15,9):	-0.1800
Courbe Coppock:	50.03

MA7:	39.98
MA20:	40.28
MA50:	41.16
MA100:	38.44
MAexp7:	40.35
MAexp20:	39.34
MAexp50:	42.60
MAexp100:	47.50
Price / MA7:	+2.68%
Price / MA20:	+1.91%
Price / MA50:	-0.27%
Price / MA100:	+6.79%
Price / MAexp7:	+1.73%
Price / MAexp20:	+4.35%
Price / MAexp50:	-3.64%
Price / MAexp100:	-13.58%

Quotes : 2020-09-18 10:01:53 - 15 min delayed data - NYMEX Futures

News

Don"t forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news was as follows:

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

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