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 11/13/2020 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

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Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 41.33 USD
My targets
39.37 USD (-2.28%)
38.29 USD (-4.96%)
My analysis
In the short term, we can see an acceleration in the bearish trend on WTI CRUDE OIL, which is a positive signal for sellers. As long as the price remains above 41.33 USD, a sale could be considered. The first bearish objective is located at 39.37 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 38.29 USD as an objective. Crossing it would then enable sellers to target 36.76 USD. If the price were to return above 41.33 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.8

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This analysis was given by Oshakati2018. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

WTI CRUDE OIL rating 40.29 USD. The price registered a decrease of -2.02% on the session and was traded between 40.21 USD and 40.94 USD over the period. The price is currently at +0.20% from its lowest and -1.59% from its highest.

40.21
40.94
40.29

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



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

Technical


Technical analysis of WTI CRUDE OIL in 1H shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : 1 hour


CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

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

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly


Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour



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
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 36.76 38.29 39.37 40.29 40.35 41.33 42.60
Change (%) -8.76% -4.96% -2.28% - +0.15% +2.58% +5.73%
Change -3.53 -2.00 -0.92 - +0.06 +1.04 +2.31
Level Major Intermediate Major - Minor Intermediate Major



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

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard39.1440.0140.4641.3341.7842.6543.10
Camarilla40.5640.6840.8040.9241.0441.1641.28
Woodie38.9439.9140.2641.2341.5842.5542.90
Fibonacci40.0140.5140.8241.3341.8342.1442.65


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard28.3631.0034.0736.7139.7842.4245.49
Camarilla35.5736.0936.6237.1437.6638.1938.71
Woodie28.5831.1134.2936.8240.0042.5345.71
Fibonacci31.0033.1834.5336.7138.8940.2442.42


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard26.1930.5633.1737.5440.1544.5247.13
Camarilla33.8734.5135.1535.7936.4337.0737.71
Woodie25.3230.1232.3037.1039.2844.0846.26
Fibonacci30.5633.2234.8737.5440.2041.8544.52

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): 29.83
MACD (12,26,9): -0.2900
Directional Movement: -23.64
AROON (14): -71.43
DEMA (21): 40.84
Parabolic SAR (0,02-0,02-0,2): 41.84
Elder Ray (13): -0.60
Super Trend (3,10): 41.48
Zig ZAG (10): 40.30
VORTEX (21): 0.8500
Stochastique (14,3,5): 1.46
TEMA (21): 40.55
Williams %R (14): -99.48
Chande Momentum Oscillator (20): -1.38
Repulse (5,40,3): -1.7900
ROCnROLL: 2
TRIX (15,9): -0.0600
Courbe Coppock: 3.50
MA7: 40.03
MA20: 39.23
MA50: 39.42
MA100: 40.43
MAexp7: 40.71
MAexp20: 41.16
MAexp50: 41.25
MAexp100: 40.69
Price / MA7: +0.65%
Price / MA20: +2.70%
Price / MA50: +2.21%
Price / MA100: -0.35%
Price / MAexp7: -1.03%
Price / MAexp20: -2.11%
Price / MAexp50: -2.33%
Price / MAexp100: -0.98%

Quotes : 2020-11-13 02:37:35 - 10 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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