WTI CRUDE OIL - Daily - Technical analysis published on 06/29/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
33%
33%
33%
My opinion
Bullish above 108.88 USD
My targets
116.40 USD (+4.66%)
117.63 USD (+5.76%)
My analysis
The basic bullish trend is very strong on WTI CRUDE OIL but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 108.88 USD. Crossing the first resistance at 116.40 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 117.63 USD as an objective. Crossing it would then enable buyers to target 126.68 USD. Caution, a return to below 108.88 USD would be a sign of a consolidation phase in the short-term basic trend. 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.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
4.3
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This analysis was given by Christiano19. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 111.22 USD. On the day, this instrument lost -0.48% with the lowest point at 110.78 USD and the highest point at 112.50 USD. The deviation from the price is +0.40% for the low point and -1.14% for the high point.110.78
112.50
111.22
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in Daily of this WTI CRUDE OIL chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 6 are neutral and 6 are bearish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 95.92 | 104.58 | 110.47 | 111.22 | 117.63 | 126.68 | 197.78 |
Change (%) | -13.76% | -5.97% | -0.67% | - | +5.76% | +13.90% | +77.83% |
Change | -15.30 | -6.64 | -0.75 | - | +6.41 | +15.46 | +86.56 |
Level | Intermediate | Major | Intermediate | - | Major | Minor | 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 | 107.58 | 108.60 | 110.18 | 111.20 | 112.78 | 113.80 | 115.38 |
Camarilla | 111.05 | 111.28 | 111.52 | 111.76 | 112.00 | 112.24 | 112.48 |
Woodie | 107.86 | 108.74 | 110.46 | 111.34 | 113.06 | 113.94 | 115.66 |
Fibonacci | 108.60 | 109.59 | 110.21 | 111.20 | 112.19 | 112.81 | 113.80 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 92.75 | 97.14 | 102.38 | 106.77 | 112.01 | 116.40 | 121.64 |
Camarilla | 104.97 | 105.86 | 106.74 | 107.62 | 108.50 | 109.39 | 110.27 |
Woodie | 93.18 | 97.35 | 102.81 | 106.98 | 112.44 | 116.61 | 122.07 |
Fibonacci | 97.14 | 100.82 | 103.09 | 106.77 | 110.45 | 112.72 | 116.40 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 75.12 | 84.74 | 99.26 | 108.88 | 123.40 | 133.02 | 147.54 |
Camarilla | 107.14 | 109.35 | 111.57 | 113.78 | 115.99 | 118.21 | 120.42 |
Woodie | 77.57 | 85.97 | 101.71 | 110.11 | 125.85 | 134.25 | 149.99 |
Fibonacci | 84.74 | 93.96 | 99.66 | 108.88 | 118.10 | 123.80 | 133.02 |
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): | 50.72 | |
MACD (12,26,9): | -0.2600 | |
Directional Movement: | -2.44 | |
AROON (14): | -42.86 | |
DEMA (21): | 111.45 | |
Parabolic SAR (0,02-0,02-0,2): | 113.18 | |
Elder Ray (13): | 0.83 | |
Super Trend (3,10): | 119.81 | |
Zig ZAG (10): | 111.24 | |
VORTEX (21): | 0.9800 | |
Stochastique (14,3,5): | 45.04 | |
TEMA (21): | 109.10 | |
Williams %R (14): | -53.36 | |
Chande Momentum Oscillator (20): | -8.26 | |
Repulse (5,40,3): | 2.3100 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0800 | |
Courbe Coppock: | 15.18 |
MA7: | 108.59 | |
MA20: | 113.58 | |
MA50: | 108.39 | |
MA100: | 102.36 | |
MAexp7: | 110.04 | |
MAexp20: | 111.17 | |
MAexp50: | 108.40 | |
MAexp100: | 101.40 | |
Price / MA7: | +2.42% | |
Price / MA20: | -2.08% | |
Price / MA50: | +2.61% | |
Price / MA100: | +8.66% | |
Price / MAexp7: | +1.07% | |
Price / MAexp20: | +0.04% | |
Price / MAexp50: | +2.60% | |
Price / MAexp100: | +9.68% |
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:
- WTI Crude Oil and CAD/JPY Forecast June 29, 2022
- WTI Crude Oil Forecast June 28, 2022
- WTI Crude Oil Forecast June 27, 2022
- WTI Crude Oil Forecast June 24, 2022
- Technical Analysis: 23/06/2022 - WTI oil futures trade with bearish bias as trendline breached
This member declared not having a position on this financial instrument or a related financial instrument.
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