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 - Daily - Technical analysis published on 02/18/2021 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 58.30 USD

My targets

63.20 USD (+2.58%)

63.35 USD (+2.82%)

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 58.30 USD. The next resistance located at 63.20 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 63.35 USD. After this resistance, buyers could then target 76.38 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

8.8

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

Additional analysis

Quotes

The WTI CRUDE OIL rating is 61.61 USD. On the day, this instrument gained +0.77% and was between 61.42 USD and 62.26 USD. This implies that the price is at +0.31% from its lowest and at -1.04% from its highest.

61.42

62.26

61.61

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

Bullish opening

Type : Bullish

Timeframe : Openning

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 several elements:

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from 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:

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

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

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	49.10	51.13	53.57	61.61	63.20	76.38	110.38
Change (%)	-20.31%	-17.01%	-13.05%	-	+2.58%	+23.97%	+79.16%
Change	-12.51	-10.48	-8.04	-	+1.59	+14.77	+48.77
Level	Minor	Intermediate	Intermediate	-	Major	Major	Intermediate

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	57.50	58.47	59.80	60.77	62.10	63.07	64.40
Camarilla	60.51	60.72	60.93	61.14	61.35	61.56	61.77
Woodie	57.69	58.56	59.99	60.86	62.29	63.16	64.59
Fibonacci	58.47	59.35	59.89	60.77	61.65	62.19	63.07

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	54.89	55.94	57.71	58.76	60.53	61.58	63.35
Camarilla	58.70	58.95	59.21	59.47	59.73	59.99	60.25
Woodie	55.24	56.12	58.06	58.94	60.88	61.76	63.70
Fibonacci	55.94	57.02	57.69	58.76	59.84	60.51	61.58

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	42.43	44.80	49.18	51.55	55.93	58.30	62.68
Camarilla	51.69	52.31	52.93	53.55	54.17	54.79	55.41
Woodie	43.43	45.30	50.18	52.05	56.93	58.80	63.68
Fibonacci	44.80	47.38	48.98	51.55	54.13	55.73	58.30

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	83.38
MACD (12,26,9):	2.5900
Directional Movement:	31.12
AROON (14):	92.86
DEMA (21):	60.44
Parabolic SAR (0,02-0,02-0,2):	58.74
Elder Ray (13):	3.33
Super Trend (3,10):	57.56
Zig ZAG (10):	61.53
VORTEX (21):	1.2600
Stochastique (14,3,5):	92.47
TEMA (21):	61.19
Williams %R (14):	-6.87
Chande Momentum Oscillator (20):	6.78
Repulse (5,40,3):	1.6400
ROCnROLL:	1
TRIX (15,9):	0.6100
Courbe Coppock:	25.90

MA7:	59.90
MA20:	56.38
MA50:	52.35
MA100:	46.74
MAexp7:	59.95
MAexp20:	57.14
MAexp50:	52.97
MAexp100:	48.84
Price / MA7:	+2.85%
Price / MA20:	+9.28%
Price / MA50:	+17.69%
Price / MA100:	+31.81%
Price / MAexp7:	+2.77%
Price / MAexp20:	+7.82%
Price / MAexp50:	+16.31%
Price / MAexp100:	+26.15%

Quotes : 2021-02-18 07:00:38 - 10 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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