WTI CRUDE OIL - 1H - Technical analysis published on 06/21/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Slightly bearish
Technical indicators
22%
33%
44%
My opinion
Bearish under 71.78 USD
My targets
70.63 USD (-0.98%)
69.77 USD (-2.19%)
My analysis
The basic trend is currently slightly bearish on WTI CRUDE OIL and the short term does not seem to show any sign of improvement. Sellers are struggling to get their hands on this instrument. However, as long as the price remains below 71.78 USD, sales could be favoured. The first bearish objective would be located at 70.63 USD. Sellers would then use the next support located at 69.77 USD as an objective. Crossing it would then enable sellers to target 68.68 USD. A return to above the resistance at 71.78 USD could jeopardize this fragile bearish trend. Indecision would then be total and in this case you could keep away.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
1.8
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 71.33 USD. The price registered an increase of +0.06% on the session and was between 71.12 USD and 72.05 USD. This implies that the price is at +0.30% from its lowest and at -1.00% from its highest.71.12
72.05
71.33
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:
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 1H shows an overall slightly bearish trend. 50.00% of the signals given by moving averages are bearish. The overall trend remains fragile, reflecting the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 8 are neutral and 6 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
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.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 69.77 | 70.63 | 71.33 | 71.33 | 71.78 | 72.30 | 72.99 |
| Change (%) | -2.19% | -0.98% | 0% | - | +0.63% | +1.36% | +2.33% |
| Change | -1.56 | -0.70 | 0 | - | +0.45 | +0.97 | +1.66 |
| Level | Intermediate | Intermediate | Minor | - | Minor | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 68.47 | 69.31 | 70.48 | 71.32 | 72.49 | 73.33 | 74.50 |
| Camarilla | 71.09 | 71.27 | 71.46 | 71.64 | 71.82 | 72.01 | 72.19 |
| Woodie | 68.63 | 69.39 | 70.64 | 71.40 | 72.65 | 73.41 | 74.66 |
| Fibonacci | 69.31 | 70.08 | 70.56 | 71.32 | 72.09 | 72.57 | 73.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.72 | 68.25 | 69.94 | 71.47 | 73.16 | 74.69 | 76.38 |
| Camarilla | 70.76 | 71.05 | 71.35 | 71.64 | 71.94 | 72.23 | 72.53 |
| Woodie | 66.81 | 68.29 | 70.03 | 71.51 | 73.25 | 74.73 | 76.47 |
| Fibonacci | 68.25 | 69.48 | 70.24 | 71.47 | 72.70 | 73.46 | 74.69 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.92 | 58.74 | 63.23 | 66.05 | 70.54 | 73.36 | 77.85 |
| Camarilla | 65.71 | 66.38 | 67.05 | 67.72 | 68.39 | 69.06 | 69.73 |
| Woodie | 56.76 | 59.16 | 64.07 | 66.47 | 71.38 | 73.78 | 78.69 |
| Fibonacci | 58.74 | 61.53 | 63.26 | 66.05 | 68.84 | 70.57 | 73.36 |
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): | 48.75 | |
| MACD (12,26,9): | 0.0500 | |
| Directional Movement: | -7.71 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 71.57 | |
| Parabolic SAR (0,02-0,02-0,2): | 72.01 | |
| Elder Ray (13): | -0.09 | |
| Super Trend (3,10): | 70.98 | |
| Zig ZAG (10): | 71.41 | |
| VORTEX (21): | 1.1500 | |
| Stochastique (14,3,5): | 30.11 | |
| TEMA (21): | 71.59 | |
| Williams %R (14): | -68.82 | |
| Chande Momentum Oscillator (20): | -0.06 | |
| Repulse (5,40,3): | -0.2600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.32 |
| MA7: | 71.44 | |
| MA20: | 69.35 | |
| MA50: | 66.06 | |
| MA100: | 63.37 | |
| MAexp7: | 71.47 | |
| MAexp20: | 71.48 | |
| MAexp50: | 71.43 | |
| MAexp100: | 71.37 | |
| Price / MA7: | -0.15% | |
| Price / MA20: | +2.86% | |
| Price / MA50: | +7.98% | |
| Price / MA100: | +12.56% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.21% | |
| Price / MAexp50: | -0.14% | |
| Price / MAexp100: | -0.06% |
Quotes :
-
10 min delayed data
-
NYMEX Futures
News
The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:
-
WTI Crude Oil and USD/CAD Forecast June 21, 2021
-
WTI Crude Oil and USD/CAD Forecast June 18, 2021
-
WTI Crude Oil Forecast June 17, 2021
-
WTI Crude Oil and USD/CAD Forecast June 16, 2021
-
WTI Crude Oil Forecast June 15, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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