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 - Weekly - Technical analysis published on 07/13/2022 (GMT)

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  • Timeframe : Weekly
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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

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 ASHIQ ALI. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Daily

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.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

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:

Central Indicators

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:

Central Indicators

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


S3S2S1PriceR1R2R3
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
Standard84.8290.0992.9698.23101.10106.37109.24
Camarilla93.6094.3595.0995.8496.5997.3398.08
Woodie83.6389.4991.7797.6399.91105.77108.05
Fibonacci90.0993.2095.1298.23101.34103.26106.37


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard79.7687.4396.11103.78112.46120.13128.81
Camarilla100.29101.79103.29104.79106.29107.79109.29
Woodie80.2787.6896.62104.03112.97120.38129.32
Fibonacci87.4393.6897.53103.78110.03113.88120.13


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard78.5790.0599.24110.72119.91131.39140.58
Camarilla102.75104.64106.54108.43110.33112.22114.11
Woodie77.4389.4898.10110.15118.77130.82139.44
Fibonacci90.0597.95102.82110.72118.62123.49131.39

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

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

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