WTI CRUDE OIL - Weekly - Technical analysis published on 07/13/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
39%
39%
My opinion
Bullish above 89.88 USD
My targets
104.58 USD (+8.82%)
117.63 USD (+22.40%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 89.88 USD remains possible. It is advisable to trade WTI CRUDE OIL with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 89.88 USD. The next bullish objective for buyers is set at 104.58 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 117.63 USD. If there is any crossing, the next objective would be the resistance located at 126.68 USD. PS: if there is a bearish break in the support located at 89.88 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
2.7
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 96.10 USD. The price is lower by -2.47% over the 5 days and was traded between 95.35 USD and 105.05 USD over the period. The price is currently at +0.79% from its lowest point and -8.52% from its highest point.95.35
105.05
96.10
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in Weekly shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Weekly
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
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
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 61.87 | 76.05 | 89.88 | 96.10 | 104.58 | 117.63 | 126.68 |
Change (%) | -35.62% | -20.86% | -6.47% | - | +8.82% | +22.40% | +31.82% |
Change | -34.23 | -20.05 | -6.22 | - | +8.48 | +21.53 | +30.58 |
Level | Major | Major | Intermediate | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
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): | 48.27 | |
MACD (12,26,9): | 6.5000 | |
Directional Movement: | -0.66 | |
AROON (14): | 64.29 | |
DEMA (21): | 111.66 | |
Parabolic SAR (0,02-0,02-0,2): | 122.20 | |
Elder Ray (13): | -5.57 | |
Super Trend (3,10): | 87.24 | |
Zig ZAG (10): | 96.11 | |
VORTEX (21): | 1.0300 | |
Stochastique (14,3,5): | 43.30 | |
TEMA (21): | 110.31 | |
Williams %R (14): | -77.55 | |
Chande Momentum Oscillator (20): | -2.13 | |
Repulse (5,40,3): | -12.2100 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 1.4800 | |
Courbe Coppock: | 18.19 |
MA7: | 100.24 | |
MA20: | 105.90 | |
MA50: | 108.99 | |
MA100: | 104.11 | |
MAexp7: | 105.31 | |
MAexp20: | 101.86 | |
MAexp50: | 87.36 | |
MAexp100: | 73.40 | |
Price / MA7: | -4.13% | |
Price / MA20: | -9.25% | |
Price / MA50: | -11.83% | |
Price / MA100: | -7.69% | |
Price / MAexp7: | -8.75% | |
Price / MAexp20: | -5.65% | |
Price / MAexp50: | +10.00% | |
Price / MAexp100: | +30.93% |
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 USD/CAD Forecast July 14, 2022
- 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
This member declared not having a position on this financial instrument or a related financial instrument.
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