WTI CRUDE OIL - Daily - Technical analysis published on 07/13/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
78%
6%
My opinion
Bearish under 98.50 USD
My targets
90.05 USD (-6.44%)
78.57 USD (-18.37%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 98.50 USD. The sellers' bearish objective is set at 90.05 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 78.57 USD. In case of crossing, the next objective would be the support located at 76.05 USD.
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
0
10
5.5
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This analysis was given by ASHIQ ALI. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 96.25 USD. The price registered an increase of +0.43% on the session and was between 93.67 USD and 97.96 USD. This implies that the price is at +2.75% from its lowest and at -1.75% from its highest.93.67
97.96
96.25
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 bearish. 67.86% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : Daily
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 61.87 | 76.05 | 89.88 | 96.25 | 98.50 | 104.58 | 110.58 |
| Change (%) | -35.72% | -20.99% | -6.62% | - | +2.34% | +8.65% | +14.89% |
| Change | -34.38 | -20.20 | -6.37 | - | +2.25 | +8.33 | +14.33 |
| Level | Major | Major | Intermediate | - | Intermediate | Major | Major |
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 | 84.82 | 90.09 | 92.96 | 98.23 | 101.10 | 106.37 | 109.24 |
| Camarilla | 93.60 | 94.35 | 95.09 | 95.84 | 96.59 | 97.33 | 98.08 |
| Woodie | 83.63 | 89.49 | 91.77 | 97.63 | 99.91 | 105.77 | 108.05 |
| Fibonacci | 90.09 | 93.20 | 95.12 | 98.23 | 101.34 | 103.26 | 106.37 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 79.76 | 87.43 | 96.11 | 103.78 | 112.46 | 120.13 | 128.81 |
| Camarilla | 100.29 | 101.79 | 103.29 | 104.79 | 106.29 | 107.79 | 109.29 |
| Woodie | 80.27 | 87.68 | 96.62 | 104.03 | 112.97 | 120.38 | 129.32 |
| Fibonacci | 87.43 | 93.68 | 97.53 | 103.78 | 110.03 | 113.88 | 120.13 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.57 | 90.05 | 99.24 | 110.72 | 119.91 | 131.39 | 140.58 |
| Camarilla | 102.75 | 104.64 | 106.54 | 108.43 | 110.33 | 112.22 | 114.11 |
| Woodie | 77.43 | 89.48 | 98.10 | 110.15 | 118.77 | 130.82 | 139.44 |
| Fibonacci | 90.05 | 97.95 | 102.82 | 110.72 | 118.62 | 123.49 | 131.39 |
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): | 36.99 | |
| MACD (12,26,9): | -3.1800 | |
| Directional Movement: | -18.51 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 101.65 | |
| Parabolic SAR (0,02-0,02-0,2): | 110.28 | |
| Elder Ray (13): | -7.43 | |
| Super Trend (3,10): | 113.08 | |
| Zig ZAG (10): | 96.27 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 21.35 | |
| TEMA (21): | 98.26 | |
| Williams %R (14): | -87.14 | |
| Chande Momentum Oscillator (20): | -13.27 | |
| Repulse (5,40,3): | -4.4800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2700 | |
| Courbe Coppock: | 14.96 |
| MA7: | 100.25 | |
| MA20: | 105.91 | |
| MA50: | 108.99 | |
| MA100: | 104.11 | |
| MAexp7: | 100.70 | |
| MAexp20: | 105.15 | |
| MAexp50: | 106.34 | |
| MAexp100: | 101.59 | |
| Price / MA7: | -3.99% | |
| Price / MA20: | -9.12% | |
| Price / MA50: | -11.69% | |
| Price / MA100: | -7.55% | |
| Price / MAexp7: | -4.42% | |
| Price / MAexp20: | -8.46% | |
| Price / MAexp50: | -9.49% | |
| Price / MAexp100: | -5.26% |
Quotes :
-
10 min delayed data
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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:
-
WTI Crude Oil Forecast July 13, 2022
-
WTI Crude Oil and USD/CAD Forecast July 12, 2022
-
WTI Crude Oil and CAD/JPY Forecast July 11, 2022
-
WTI Crude Oil and USD/CAD Forecast July 8, 2022
-
Technical Analysis: 07/07/2022 - WTI oil futures signal continuation of brutal selloff
This member declared not having a position on this financial instrument or a related financial instrument.
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