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 05/20/2022 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 108.38 USD
My targets
112.00 USD (+1.62%)
116.52 USD (+5.73%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 108.38 USD. The buyers' bullish objective is set at 112.00 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 116.52 USD. If there is any crossing, the next objective would be the resistance located at 119.11 USD.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.1

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 price is 110.21 USD. On the day, this instrument gained +0.29% and was between 108.13 USD and 110.39 USD. This implies that the price is at +1.92% from its lowest and at -0.16% from its highest.

108.13
110.39
110.21

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Central Gaps

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 result:

Central Records

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 bullish. 78.57% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 103.99 106.06 108.38 110.21 112.00 119.11 128.16
Change (%) -5.64% -3.77% -1.66% - +1.62% +8.08% +16.29%
Change -6.22 -4.15 -1.83 - +1.79 +8.90 +17.95
Level Intermediate Intermediate Intermediate - Intermediate Major 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
Standard98.45100.84105.37107.76112.29114.68119.21
Camarilla107.99108.62109.26109.89110.52111.16111.79
Woodie99.51101.38106.43108.30113.35115.22120.27
Fibonacci100.84103.49105.12107.76110.41112.04114.68


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard87.4591.6499.89104.08112.33116.52124.77
Camarilla104.71105.85106.99108.13109.27110.41111.55
Woodie89.4792.66101.91105.10114.35117.54126.79
Fibonacci91.6496.4099.33104.08108.84111.77116.52


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard75.7482.8792.6099.73109.46116.59126.32
Camarilla97.6999.24100.79102.33103.88105.42106.97
Woodie77.0483.5293.90100.38110.76117.24127.62
Fibonacci82.8789.3193.2999.73106.17110.15116.59

Numerical data


The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators
Moving averages

RSI (14): 60.96
MACD (12,26,9): 0.5100
Directional Movement: 9.37
AROON (14): 64.29
DEMA (21): 109.62
Parabolic SAR (0,02-0,02-0,2): 109.04
Elder Ray (13): 0.79
Super Trend (3,10): 107.65
Zig ZAG (10): 110.25
VORTEX (21): 1.3700
Stochastique (14,3,5): 86.53
TEMA (21): 110.22
Williams %R (14): -2.21
Chande Momentum Oscillator (20): 1.17
Repulse (5,40,3): 0.8900
ROCnROLL: 1
TRIX (15,9): 0.0600
Courbe Coppock: 1.65
MA7: 108.74
MA20: 104.23
MA50: 101.97
MA100: 93.60
MAexp7: 109.70
MAexp20: 109.02
MAexp50: 108.75
MAexp100: 108.46
Price / MA7: +1.35%
Price / MA20: +5.74%
Price / MA50: +8.08%
Price / MA100: +17.75%
Price / MAexp7: +0.47%
Price / MAexp20: +1.10%
Price / MAexp50: +1.35%
Price / MAexp100: +1.62%

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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