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 01/25/2023 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Neutral

Technical indicators

22%

28%

50%

My opinion

Bearish under 82.61 USD

My targets

73.02 USD (-9.23%)

65.47 USD (-18.61%)

My analysis

The strong short-term decrease of WTI CRUDE OIL should quickly allow the basic trend to become bearish. As long as the price remains below the resistance located at 82.61 USD, a sale could be considered. The first bearish objective is located at 73.02 USD. The bearish momentum would be boosted by a support break. Sellers could then target the support located at 65.47 USD. If there is any crossing, the next objective would be support 57.59 USD. Caution, if there is a return to above 82.61 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.

Force

Comment on the analysis

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 Pasqual32. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL rating is 80.44 USD. Over 5 days, this instrument gained +1.21% with the lowest point at 79.45 USD and the highest point at 82.64 USD. The deviation from the price is +1.25% for the low point and -2.66% for the high point.

79.45

82.64

80.44

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

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in Weekly shows a neutral overall trend. This indecision could turn into a bearish trend due to the strong bearish signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	21.63	38.80	57.59	80.44	82.61	100.34	122.44
Change (%)	-73.11%	-51.77%	-28.41%	-	+2.70%	+24.74%	+52.21%
Change	-58.81	-41.64	-22.85	-	+2.17	+19.90	+42.00
Level	Intermediate	Major	Major	-	Major	Intermediate	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	76.56	78.11	79.12	80.67	81.68	83.23	84.24
Camarilla	79.43	79.66	79.90	80.13	80.37	80.60	80.83
Woodie	76.29	77.98	78.85	80.54	81.41	83.10	83.97
Fibonacci	78.11	79.09	79.69	80.67	81.65	82.25	83.23

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	74.94	76.69	79.17	80.92	83.40	85.15	87.63
Camarilla	80.48	80.87	81.25	81.64	82.03	82.42	82.80
Woodie	75.30	76.87	79.53	81.10	83.76	85.33	87.99
Fibonacci	76.69	78.31	79.31	80.92	82.54	83.54	85.15

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	60.38	65.47	73.02	78.11	85.66	90.75	98.30
Camarilla	77.08	78.24	79.40	80.56	81.72	82.88	84.04
Woodie	61.60	66.09	74.24	78.73	86.88	91.37	99.52
Fibonacci	65.47	70.30	73.29	78.11	82.94	85.93	90.75

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):	47.21
MACD (12,26,9):	-2.9200
Directional Movement:	-4.86
AROON (14):	-28.57
DEMA (21):	78.47
Parabolic SAR (0,02-0,02-0,2):	85.25
Elder Ray (13):	0.41
Super Trend (3,10):	102.31
Zig ZAG (10):	80.42
VORTEX (21):	0.9600
Stochastique (14,3,5):	42.73
TEMA (21):	75.96
Williams %R (14):	-58.55
Chande Momentum Oscillator (20):	-12.81
Repulse (5,40,3):	1.3900
ROCnROLL:	-1
TRIX (15,9):	-0.5700
Courbe Coppock:	17.55

MA7:	80.67
MA20:	78.38
MA50:	78.30
MA100:	82.14
MAexp7:	79.66
MAexp20:	82.29
MAexp50:	83.04
MAexp100:	75.48
Price / MA7:	-0.29%
Price / MA20:	+2.63%
Price / MA50:	+2.73%
Price / MA100:	-2.07%
Price / MAexp7:	+0.98%
Price / MAexp20:	-2.25%
Price / MAexp50:	-3.13%
Price / MAexp100:	+6.57%

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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