WTI CRUDE OIL - Daily - Technical analysis published on 03/20/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 59.75 USD
My targets
63.20 USD (+2.90%)
66.08 USD (+7.59%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 59.75 USD remains possible. It is advisable to trade WTI CRUDE OIL with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 59.75 USD. The next bullish objective for buyers is set at 63.20 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 66.08 USD. If there is any crossing, the next objective would be the resistance located at 76.38 USD. PS: if there is a bearish break in the support located at 59.75 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
2.9
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 jayson197. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 61.42 USD. The price registered an increase of +2.37% on the session and was between 58.94 USD and 61.72 USD. This implies that the price is at +4.21% from its lowest and at -0.49% from its highest.58.94
61.72
61.42
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in Daily shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : Daily
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:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Long black line
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 51.10 | 53.52 | 59.75 | 61.42 | 63.20 | 66.08 | 76.38 |
| Change (%) | -16.80% | -12.86% | -2.72% | - | +2.90% | +7.59% | +24.36% |
| Change | -10.32 | -7.90 | -1.67 | - | +1.78 | +4.66 | +14.96 |
| Level | Major | Minor | Minor | - | Major | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 50.57 | 54.39 | 57.19 | 61.01 | 63.81 | 67.63 | 70.43 |
| Camarilla | 58.18 | 58.79 | 59.39 | 60.00 | 60.61 | 61.21 | 61.82 |
| Woodie | 50.07 | 54.14 | 56.69 | 60.76 | 63.31 | 67.38 | 69.93 |
| Fibonacci | 54.39 | 56.92 | 58.48 | 61.01 | 63.54 | 65.10 | 67.63 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58.32 | 60.72 | 63.17 | 65.57 | 68.02 | 70.42 | 72.87 |
| Camarilla | 64.28 | 64.72 | 65.17 | 65.61 | 66.06 | 66.50 | 66.94 |
| Woodie | 58.34 | 60.73 | 63.19 | 65.58 | 68.04 | 70.43 | 72.89 |
| Fibonacci | 60.72 | 62.58 | 63.72 | 65.57 | 67.43 | 68.57 | 70.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 44.43 | 48.94 | 54.79 | 59.30 | 65.15 | 69.66 | 75.51 |
| Camarilla | 57.79 | 58.74 | 59.69 | 60.64 | 61.59 | 62.54 | 63.49 |
| Woodie | 45.10 | 49.28 | 55.46 | 59.64 | 65.82 | 70.00 | 76.18 |
| Fibonacci | 48.94 | 52.90 | 55.34 | 59.30 | 63.26 | 65.70 | 69.66 |
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): | 49.06 | |
| MACD (12,26,9): | 1.3300 | |
| Directional Movement: | -7.35 | |
| AROON (14): | -57.15 | |
| DEMA (21): | 64.75 | |
| Parabolic SAR (0,02-0,02-0,2): | 67.78 | |
| Elder Ray (13): | -2.86 | |
| Super Trend (3,10): | 59.39 | |
| Zig ZAG (10): | 61.48 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 37.76 | |
| TEMA (21): | 63.94 | |
| Williams %R (14): | -66.46 | |
| Chande Momentum Oscillator (20): | 0.20 | |
| Repulse (5,40,3): | -0.7900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.4900 | |
| Courbe Coppock: | 6.07 |
| MA7: | 63.99 | |
| MA20: | 63.23 | |
| MA50: | 58.53 | |
| MA100: | 51.58 | |
| MAexp7: | 63.05 | |
| MAexp20: | 62.61 | |
| MAexp50: | 58.78 | |
| MAexp100: | 53.61 | |
| Price / MA7: | -4.02% | |
| Price / MA20: | -2.86% | |
| Price / MA50: | +4.94% | |
| Price / MA100: | +19.08% | |
| Price / MAexp7: | -2.59% | |
| Price / MAexp20: | -1.90% | |
| Price / MAexp50: | +4.49% | |
| Price / MAexp100: | +14.57% |
Quotes :
2021-03-19 21:40:17
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
-
WTI Crude Oil and USD/CAD Forecast March 22, 2021
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WTI Crude Oil and USD/CAD Forecast March 19, 2021
-
WTI Crude Oil and USD/CAD Forecast March 18, 2021
-
WTI Crude Oil and USDCAD Forecast March 17, 2021
-
WTI Crude Oil Forecast March 16, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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