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 - Daily - Technical analysis published on 04/03/2024 (GMT)

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  • Timeframe : Daily
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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 82.73 USD
My targets
87.19 USD (+2.41%)
90.79 USD (+6.64%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 82.73 USD, you could try to benefit from the boom. The first bullish objective is located at 87.19 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 90.79 USD as an objective. Crossing it would then enable buyers to target 119.11 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6

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 jann1414. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The WTI CRUDE OIL rating is 85.14 USD. The price registered a decrease of -0.01% on the session with the lowest point at 85.06 USD and the highest point at 85.64 USD. The deviation from the price is +0.09% for the low point and -0.58% for the high point.

85.06
85.64
85.14

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



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of WTI CRUDE OIL in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily


CCI indicator: bearish divergence

Type : Bearish

Timeframe : Daily


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found this result concerning these indicators:

Central Indicators

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly



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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 76.99 79.69 82.73 85.14 87.19 90.79 119.11
Change (%) -9.57% -6.40% -2.83% - +2.41% +6.64% +39.90%
Change -8.15 -5.45 -2.41 - +2.05 +5.65 +33.97
Level Intermediate Minor Major - Minor 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
Standard82.7183.2884.3684.9386.0186.5887.66
Camarilla84.9985.1485.2985.4485.5985.7485.89
Woodie82.9783.4184.6285.0686.2786.7187.92
Fibonacci83.2883.9184.3084.9385.5685.9586.58


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard78.7579.6581.4182.3184.0784.9786.73
Camarilla82.4482.6882.9383.1783.4183.6683.90
Woodie79.1879.8781.8482.5384.5085.1987.16
Fibonacci79.6580.6781.2982.3183.3383.9584.97


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard70.1773.1978.4581.4786.7389.7595.01
Camarilla81.4382.1982.9583.7184.4785.2385.99
Woodie71.2973.7579.5782.0387.8590.3196.13
Fibonacci73.1976.3578.3181.4784.6386.5989.75

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): 69.51
MACD (12,26,9): 1.9200
Directional Movement: 23.15
AROON (14): 100.00
DEMA (21): 83.83
Parabolic SAR (0,02-0,02-0,2): 80.47
Elder Ray (13): 2.93
Super Trend (3,10): 80.58
Zig ZAG (10): 85.13
VORTEX (21): 1.1900
Stochastique (14,3,5): 93.85
TEMA (21): 84.45
Williams %R (14): -7.82
Chande Momentum Oscillator (20): 4.66
Repulse (5,40,3): 2.0500
ROCnROLL: 1
TRIX (15,9): 0.3000
Courbe Coppock: 11.60
MA7: 83.20
MA20: 80.96
MA50: 77.82
MA100: 74.89
MAexp7: 83.55
MAexp20: 81.40
MAexp50: 78.65
MAexp100: 77.10
Price / MA7: +2.33%
Price / MA20: +5.16%
Price / MA50: +9.41%
Price / MA100: +13.69%
Price / MAexp7: +1.90%
Price / MAexp20: +4.59%
Price / MAexp50: +8.25%
Price / MAexp100: +10.43%

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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