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 02/21/2021 (GMT)

Londinia

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

83%

11%

My opinion

Bullish above 55.93 USD

My targets

63.20 USD (+6.68%)

63.35 USD (+6.93%)

My analysis

The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 55.93 USD, you could try to benefit from the boom. The first bullish objective is located at 63.20 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 63.35 USD as an objective. Crossing it would then enable buyers to target 76.38 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.5

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 59.24 USD. Over 5 days, this instrument lost -0.39% with the lowest point at 58.59 USD and the highest point at 62.26 USD. The deviation from the price is +1.11% for the low point and -4.85% for the high point.

58.59

62.26

59.24

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

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

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in Weekly shows a strongly overall bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

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 70

Type : Neutral

Timeframe : Weekly

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Weekly

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

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

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	11.57	42.63	51.13	59.24	63.20	76.38	110.38
Change (%)	-80.47%	-28.04%	-13.69%	-	+6.68%	+28.93%	+86.33%
Change	-47.67	-16.61	-8.11	-	+3.96	+17.14	+51.14
Level	Intermediate	Major	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	56.98	58.39	59.45	60.86	61.92	63.33	64.39
Camarilla	59.84	60.07	60.29	60.52	60.75	60.97	61.20
Woodie	56.82	58.30	59.29	60.77	61.76	63.24	64.23
Fibonacci	58.39	59.33	59.91	60.86	61.80	62.38	63.33

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

Technical indicators

Moving averages

RSI (14):	74.12
MACD (12,26,9):	4.5700
Directional Movement:	25.49
AROON (14):	100.00
DEMA (21):	54.68
Parabolic SAR (0,02-0,02-0,2):	50.90
Elder Ray (13):	8.49
Super Trend (3,10):	49.99
Zig ZAG (10):	59.04
VORTEX (21):	1.2600
Stochastique (14,3,5):	94.01
TEMA (21):	58.25
Williams %R (14):	-14.56
Chande Momentum Oscillator (20):	13.51
Repulse (5,40,3):	4.9600
ROCnROLL:	1
TRIX (15,9):	1.1600
Courbe Coppock:	73.90

MA7:	59.80
MA20:	56.67
MA50:	52.60
MA100:	46.92
MAexp7:	55.17
MAexp20:	49.33
MAexp50:	45.87
MAexp100:	47.43
Price / MA7:	-0.94%
Price / MA20:	+4.54%
Price / MA50:	+12.62%
Price / MA100:	+26.26%
Price / MAexp7:	+7.38%
Price / MAexp20:	+20.09%
Price / MAexp50:	+29.15%
Price / MAexp100:	+24.90%

Quotes : 2021-02-19 22:40:05 - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:

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

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