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 11/22/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Neutral

Technical indicators

11%

78%

11%

My opinion

Bearish under 78.81 USD

My targets

73.86 USD (-3.24%)

71.02 USD (-6.95%)

My analysis

The current short-term bearish acceleration registered on WTI CRUDE OIL should quickly allow the basic trend to return to a bearish trend. To avoid contradicting the short term, traders could favour short positions (for sale) as long as the price remains well below 78.81 USD. Short-term sellers will use the support located at 73.86 USD as an objective. A bearish break of this support would revive the bearish momentum. The next bearish objective would then be set at 71.02 USD. Crossing this support would then open the door for sellers to target 66.26 USD. Caution, if there is a return to below 78.81 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend buyers, many of whom will certainly benefit from this movement.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

3.6

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

Additional analysis

Quotes

The WTI CRUDE OIL rating is 76.33 USD. On the day, this instrument gained +0.51% with the lowest point at 74.76 USD and the highest point at 76.70 USD. The deviation from the price is +2.10% for the low point and -0.48% for the high point.

74.76

76.70

76.33

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

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:

New LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of WTI CRUDE OIL indicates that the overall trend is not clearly defined. This indecision could turn into a bearish trend due to the strong bearish 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.

In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

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

SuperTrend indicator bearish reversal

Type : Bearish

Timeframe : Daily

MACD indicator is back under 0

Type : Bearish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

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

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	61.89	66.26	73.86	76.33	76.38	78.81	84.14
Change (%)	-18.92%	-13.19%	-3.24%	-	+0.07%	+3.25%	+10.23%
Change	-14.44	-10.07	-2.47	-	+0.05	+2.48	+7.81
Level	Intermediate	Major	Minor	-	Major	Intermediate	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	70.00	72.55	74.24	76.79	78.48	81.03	82.72
Camarilla	74.77	75.16	75.55	75.94	76.33	76.72	77.11
Woodie	69.58	72.34	73.82	76.58	78.06	80.82	82.30
Fibonacci	72.55	74.17	75.17	76.79	78.41	79.41	81.03

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	66.70	70.89	73.42	77.61	80.14	84.33	86.86
Camarilla	74.09	74.71	75.32	75.94	76.56	77.17	77.79
Woodie	65.86	70.48	72.58	77.20	79.30	83.92	86.02
Fibonacci	70.89	73.46	75.05	77.61	80.18	81.77	84.33

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	67.09	71.02	77.54	81.47	87.99	91.92	98.44
Camarilla	81.18	82.13	83.09	84.05	85.01	85.97	86.92
Woodie	68.38	71.67	78.83	82.12	89.28	92.57	99.73
Fibonacci	71.02	75.02	77.48	81.47	85.47	87.93	91.92

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	37.27
MACD (12,26,9):	-0.5700
Directional Movement:	-13.61
AROON (14):	-57.14
DEMA (21):	79.80
Parabolic SAR (0,02-0,02-0,2):	83.93
Elder Ray (13):	-3.77
Super Trend (3,10):	83.58
Zig ZAG (10):	76.31
VORTEX (21):	0.8500
Stochastique (14,3,5):	15.63
TEMA (21):	77.81
Williams %R (14):	-84.92
Chande Momentum Oscillator (20):	-2.53
Repulse (5,40,3):	-1.4500
ROCnROLL:	2
TRIX (15,9):	0.0700
Courbe Coppock:	9.94

MA7:	78.76
MA20:	81.14
MA50:	78.85
MA100:	74.22
MAexp7:	78.30
MAexp20:	79.97
MAexp50:	78.48
MAexp100:	75.16
Price / MA7:	-3.09%
Price / MA20:	-5.93%
Price / MA50:	-3.20%
Price / MA100:	+2.84%
Price / MAexp7:	-2.52%
Price / MAexp20:	-4.55%
Price / MAexp50:	-2.74%
Price / MAexp100:	+1.56%

Quotes : - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:

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

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