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 - Daily - Technical analysis published on 03/05/2021 (GMT)

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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
72%
6%
22%
My opinion
Bullish above 63.20 USD
My targets
65.15 USD (+1.62%)
69.66 USD (+8.66%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 63.20 USD. The buyers” bullish objective is set at 65.15 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 69.66 USD. If there is any crossing, the next objective would be the resistance located at 76.38 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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 Simon1. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The WTI CRUDE OIL price is 64.11 USD. The price registered an increase of +0.44% on the session and was between 63.96 USD and 64.45 USD. This implies that the price is at +0.23% from its lowest and at -0.53% from its highest.

63.96
64.45
64.11

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
The Central Records scanner for higher/lower results shows the following items:

Central Records

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 this Daily chart of WTI CRUDE OIL indicates that the overall trend is strongly bullish. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

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:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly


Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily


Price is back over the pivot point

Type : Bullish

Timeframe : Daily



Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 53.54 59.24 63.20 64.11 76.38 110.38 145.29
Change (%) -16.49% -7.60% -1.42% - +19.14% +72.17% +126.63%
Change -10.57 -4.87 -0.91 - +12.27 +46.27 +81.18
Level Intermediate Intermediate Major - Major Intermediate 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
Standard57.0758.8061.4163.1465.7567.4870.09
Camarilla62.8463.2363.6364.0364.4364.8365.22
Woodie57.5259.0261.8663.3666.2067.7070.54
Fibonacci58.8060.4661.4863.1464.8065.8267.48


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard53.9556.3958.9461.3863.9366.3768.92
Camarilla60.1360.5961.0461.5061.9662.4262.87
Woodie54.0256.4259.0161.4164.0066.4068.99
Fibonacci56.3958.2959.4761.3863.2864.4666.37


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard44.4348.9454.7959.3065.1569.6675.51
Camarilla57.7958.7459.6960.6461.5962.5463.49
Woodie45.1049.2855.4659.6465.8270.0076.18
Fibonacci48.9452.9055.3459.3063.2665.7069.66

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): 69.06
MACD (12,26,9): 2.1900
Directional Movement: 18.14
AROON (14): 64.29
DEMA (21): 63.42
Parabolic SAR (0,02-0,02-0,2): 59.24
Elder Ray (13): 2.69
Super Trend (3,10): 57.92
Zig ZAG (10): 64.24
VORTEX (21): 1.1900
Stochastique (14,3,5): 79.06
TEMA (21): 63.50
Williams %R (14): -10.69
Chande Momentum Oscillator (20): 3.04
Repulse (5,40,3): 4.1100
ROCnROLL: 1
TRIX (15,9): 0.5800
Courbe Coppock: 10.91
MA7: 62.14
MA20: 60.77
MA50: 55.51
MA100: 49.15
MAexp7: 62.41
MAexp20: 60.43
MAexp50: 56.15
MAexp100: 51.32
Price / MA7: +3.17%
Price / MA20: +5.50%
Price / MA50: +15.49%
Price / MA100: +30.44%
Price / MAexp7: +2.72%
Price / MAexp20: +6.09%
Price / MAexp50: +14.18%
Price / MAexp100: +24.92%

Quotes : 2021-03-05 00:04:52 - 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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