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 07/06/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

44%

22%

33%

My opinion

Bullish above 69.93 USD

My targets

76.38 USD (+4.10%)

81.52 USD (+11.10%)

My analysis

The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 69.93 USD, you could try to benefit from the boom. The first bullish objective is located at 76.38 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 81.52 USD as an objective. Crossing it would then enable buyers to target 98.47 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 indecisive in the very short term but do not change the general bullish opinion of this analysis.

Force

6.8

Comment on the analysis

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 SuperLubeCrude. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 73.37 USD. The price has increased by +0.00% since the last closing and was between 72.94 USD and 76.98 USD. This implies that the price is at +0.59% from its lowest and at -4.69% from its highest.

72.94

76.98

73.37

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

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:

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

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. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : Daily

RSI indicator: bearish divergence

Type : Bearish

Timeframe : Daily

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

Pivot points : price is under support 3

Type : Neutral

Timeframe : Daily

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	51.10	63.20	66.12	73.37	76.38	98.47	110.38
Change (%)	-30.35%	-13.86%	-9.88%	-	+4.10%	+34.21%	+50.44%
Change	-22.27	-10.17	-7.25	-	+3.01	+25.10	+37.01
Level	Intermediate	Major	Major	-	Major	Minor	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	68.13	70.54	72.17	74.58	76.21	78.62	80.25
Camarilla	72.70	73.07	73.44	73.81	74.18	74.55	74.92
Woodie	67.75	70.35	71.79	74.39	75.83	78.43	79.87
Fibonacci	70.54	72.08	73.03	74.58	76.12	77.07	78.62

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	68.43	70.20	72.68	74.45	76.93	78.70	81.18
Camarilla	73.99	74.38	74.77	75.16	75.55	75.94	76.33
Woodie	68.79	70.38	73.04	74.63	77.29	78.88	81.54
Fibonacci	70.20	71.82	72.83	74.45	76.07	77.08	78.70

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	61.49	64.64	69.93	73.08	78.37	81.52	86.81
Camarilla	72.91	73.68	74.46	75.23	76.00	76.78	77.55
Woodie	62.57	65.18	71.01	73.62	79.45	82.06	87.89
Fibonacci	64.64	67.86	69.85	73.08	76.30	78.29	81.52

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):	59.32
MACD (12,26,9):	1.8600
Directional Movement:	7.94
AROON (14):	92.86
DEMA (21):	75.19
Parabolic SAR (0,02-0,02-0,2):	72.90
Elder Ray (13):	1.34
Super Trend (3,10):	70.53
Zig ZAG (10):	73.81
VORTEX (21):	1.1100
Stochastique (14,3,5):	79.72
TEMA (21):	75.44
Williams %R (14):	-43.97
Chande Momentum Oscillator (20):	2.17
Repulse (5,40,3):	-2.0100
ROCnROLL:	1
TRIX (15,9):	0.4000
Courbe Coppock:	8.76

MA7:	74.27
MA20:	72.77
MA50:	68.64
MA100:	65.22
MAexp7:	74.39
MAexp20:	72.67
MAexp50:	69.28
MAexp100:	64.95
Price / MA7:	-1.21%
Price / MA20:	+0.82%
Price / MA50:	+6.89%
Price / MA100:	+12.50%
Price / MAexp7:	-1.37%
Price / MAexp20:	+0.96%
Price / MAexp50:	+5.90%
Price / MAexp100:	+12.96%

Quotes : - 10 min delayed data - NYMEX Futures

News

Don't forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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