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 04/07/2021 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Strongly bearish
Technical indicators
28%
33%
39%
My opinion
Bearish under 59.41 USD
My targets
58.85 USD (-0.59%)
57.63 USD (-2.65%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 59.41 USD. The sellers” bearish objective is set at 58.85 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 57.63 USD. In case of crossing, the next objective would be the support located at 53.52 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.3

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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

WTI CRUDE OIL rating 59.20 USD. The price is lower by -0.22% since the last closing and was between 58.65 USD and 60.04 USD. This implies that the price is at +0.94% from its lowest and at -1.40% from its highest.

58.65
60.04
59.20

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.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
The Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of WTI CRUDE OIL in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

CCI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


CCI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


MACD indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


MACD indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


RSI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour


Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour


Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly


RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour


Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : 1 hour


Ichimoku : price is under the cloud

Type : Bearish

Timeframe : 1 hour


MACD indicator is back under 0

Type : Bearish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly


Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour


Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour



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

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:

Central Candlesticks

Doji

Type : Neutral

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 53.52 57.63 58.85 59.20 59.41 59.94 60.89
Change (%) -9.59% -2.65% -0.59% - +0.35% +1.25% +2.85%
Change -5.68 -1.57 -0.35 - +0.21 +0.74 +1.69
Level Minor Minor Intermediate - Minor Intermediate Minor



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard56.0557.3458.3359.6260.6161.9062.89
Camarilla58.7058.9159.1259.3359.5459.7559.96
Woodie55.9157.2758.1959.5560.4761.8362.75
Fibonacci57.3458.2158.7559.6260.4961.0361.90


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard56.0257.4459.4460.8662.8664.2866.28
Camarilla60.5160.8261.1461.4561.7662.0862.39
Woodie56.3257.5959.7461.0163.1664.4366.58
Fibonacci57.4458.7459.5560.8662.1662.9764.28


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard45.7451.5056.4762.2367.2072.9677.93
Camarilla58.5059.4860.4761.4562.4363.4264.40
Woodie45.3651.3056.0962.0366.8272.7677.55
Fibonacci51.5055.6058.1362.2366.3368.8672.96

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): 43.69
MACD (12,26,9): -0.0100
Directional Movement: -2.91
AROON (14): 21.43
DEMA (21): 59.45
Parabolic SAR (0,02-0,02-0,2): 60.04
Elder Ray (13): -0.10
Super Trend (3,10): 58.87
Zig ZAG (10): 59.07
VORTEX (21): 0.9000
Stochastique (14,3,5): 64.22
TEMA (21): 59.37
Williams %R (14): -88.10
Chande Momentum Oscillator (20): -0.41
Repulse (5,40,3): -0.8900
ROCnROLL: 2
TRIX (15,9): -0.0100
Courbe Coppock: 0.14
MA7: 59.94
MA20: 61.60
MA50: 60.25
MA100: 54.12
MAexp7: 59.33
MAexp20: 59.48
MAexp50: 59.60
MAexp100: 59.81
Price / MA7: -1.23%
Price / MA20: -3.90%
Price / MA50: -1.74%
Price / MA100: +9.39%
Price / MAexp7: -0.22%
Price / MAexp20: -0.47%
Price / MAexp50: -0.67%
Price / MAexp100: -1.02%

Quotes : - 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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