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 06/18/2021 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
28%
33%
39%
My opinion
Bearish under 71.33 USD
My targets
69.78 USD (-1.18%)
69.29 USD (-1.87%)
My analysis
The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 71.33 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 69.78 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 69.29 USD as an objective. Crossing it would then enable sellers to target 68.48 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 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 70.61 USD. The price registered a decrease of -0.61% on the session and was traded between 70.33 USD and 71.12 USD over the period. The price is currently at +0.40% from its lowest and -0.72% from its highest.

70.33
71.12
70.61

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

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

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 1H chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Central Indicators

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



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

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


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 68.48 69.29 69.78 70.61 70.63 71.33 71.78
Change (%) -3.02% -1.87% -1.18% - +0.03% +1.02% +1.66%
Change -2.13 -1.32 -0.83 - +0.02 +0.72 +1.17
Level Intermediate Minor Minor - Major 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
Standard67.2468.5169.7771.0472.3073.5774.83
Camarilla70.3470.5870.8171.0471.2771.5071.74
Woodie67.2568.5169.7871.0472.3173.5774.84
Fibonacci68.5169.4770.0771.0472.0072.6073.57


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard66.4067.4469.1770.2171.9472.9874.71
Camarilla70.1570.4070.6670.9171.1671.4271.67
Woodie66.7667.6169.5370.3872.3073.1575.07
Fibonacci67.4468.5069.1570.2171.2771.9272.98


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard55.9258.7463.2366.0570.5473.3677.85
Camarilla65.7166.3867.0567.7268.3969.0669.73
Woodie56.7659.1664.0766.4771.3873.7878.69
Fibonacci58.7461.5363.2666.0568.8470.5773.36

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): 43.22
MACD (12,26,9): -0.2500
Directional Movement: -7.98
AROON (14): -50.00
DEMA (21): 70.50
Parabolic SAR (0,02-0,02-0,2): 69.86
Elder Ray (13): -0.06
Super Trend (3,10): 71.50
Zig ZAG (10): 70.61
VORTEX (21): 0.8800
Stochastique (14,3,5): 35.78
TEMA (21): 70.44
Williams %R (14): -61.11
Chande Momentum Oscillator (20): -0.40
Repulse (5,40,3): -0.3300
ROCnROLL: 2
TRIX (15,9): -0.0600
Courbe Coppock: 1.23
MA7: 71.16
MA20: 69.04
MA50: 65.80
MA100: 63.17
MAexp7: 70.65
MAexp20: 70.86
MAexp50: 71.24
MAexp100: 71.26
Price / MA7: -0.77%
Price / MA20: +2.27%
Price / MA50: +7.31%
Price / MA100: +11.78%
Price / MAexp7: -0.06%
Price / MAexp20: -0.35%
Price / MAexp50: -0.88%
Price / MAexp100: -0.91%

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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