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 08/03/2021 (GMT)

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

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Summary of the analysis

Trends
Short term: Neutral
Underlying: Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 72.32 USD
My targets
71.42 USD (-0.56%)
71.08 USD (-1.03%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WTI CRUDE OIL. As long as you are under the resistance located at 72.32 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 71.42 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 71.08 USD as an objective. Crossing it would then enable sellers to target 70.56 USD. If the resistance 72.32 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.

Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.1

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

The WTI CRUDE OIL rating is 71.82 USD. On the day, this instrument gained +0.79% and was traded between 70.97 USD and 71.96 USD over the period. The price is currently at +1.20% from its lowest and -0.19% from its highest.

70.97
71.96
71.82

The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of WTI CRUDE OIL indicates that the overall trend is bearish. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:

Central Indicators

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : 1 hour


Moving Average bearish crossovers : MA50 & MA100

Type : Bearish

Timeframe : 1 hour


Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : 1 hour


Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : 1 hour



The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Ichimoku : price is under the cloud

Type : Bearish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



The analysis of the price chart with Central Patterns scanners does not return any result.

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


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 70.56 71.08 71.42 71.82 72.32 72.93 74.23
Change (%) -1.75% -1.03% -0.56% - +0.70% +1.55% +3.36%
Change -1.26 -0.74 -0.40 - +0.50 +1.11 +2.41
Level Major Minor Minor - Major Minor Minor



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

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard66.4968.5269.8971.9273.2975.3276.69
Camarilla70.3370.6470.9571.2671.5771.8872.20
Woodie66.1668.3669.5671.7672.9675.1676.36
Fibonacci68.5269.8270.6271.9273.2274.0275.32


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard67.8369.2071.5072.8775.1776.5478.84
Camarilla72.8073.1473.4773.8174.1574.4874.82
Woodie68.3169.4371.9873.1075.6576.7779.32
Fibonacci69.2070.6071.4772.8774.2775.1476.54


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard54.9259.9666.8971.9378.8683.9090.83
Camarilla70.5271.6272.7173.8174.9176.0177.10
Woodie55.8660.4367.8372.4079.8084.3791.77
Fibonacci59.9664.5467.3671.9376.5179.3383.90

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): 50.42
MACD (12,26,9): -0.3000
Directional Movement: -1.29
AROON (14): 21.43
DEMA (21): 71.22
Parabolic SAR (0,02-0,02-0,2): 70.77
Elder Ray (13): 0.29
Super Trend (3,10): 72.08
Zig ZAG (10): 71.82
VORTEX (21): 0.8900
Stochastique (14,3,5): 79.45
TEMA (21): 71.23
Williams %R (14): -10.10
Chande Momentum Oscillator (20): 0.38
Repulse (5,40,3): 0.7400
ROCnROLL: -1
TRIX (15,9): -0.0900
Courbe Coppock: 0.19
MA7: 72.40
MA20: 71.95
MA50: 71.50
MA100: 67.07
MAexp7: 71.52
MAexp20: 71.68
MAexp50: 72.20
MAexp100: 72.31
Price / MA7: -0.80%
Price / MA20: -0.18%
Price / MA50: +0.45%
Price / MA100: +7.08%
Price / MAexp7: +0.42%
Price / MAexp20: +0.20%
Price / MAexp50: -0.53%
Price / MAexp100: -0.68%

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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