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 04/15/2024 (GMT)

  • 114
  • 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
  • Timeframe : Daily
  • - Analysis generated on
  • Status : INVALID

Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 81.47 USD
My targets
86.99 USD (+2.83%)
90.79 USD (+7.32%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 81.47 USD, you could try to benefit from the boom. The first bullish objective is located at 86.99 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
7.1

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

Additional analysis

Quotes

The WTI CRUDE OIL price is 84.60 USD. The price is lower by -1.24% since the last closing with the lowest point at 84.05 USD and the highest point at 86.11 USD. The deviation from the price is +0.65% for the low point and -1.75% for the high point.

84.05
86.11
84.60

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.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


A technical analysis in Daily of this WTI CRUDE OIL chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Central Indicators

Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : Daily



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Central Candlesticks

Bearish engulfing lines

Type : Bearish

Timeframe : Daily




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 76.99 79.69 84.16 84.60 86.99 90.79 119.11
Change (%) -9.00% -5.80% -0.52% - +2.83% +7.32% +40.79%
Change -7.61 -4.91 -0.44 - +2.39 +6.19 +34.51
Level Major Minor Intermediate - Intermediate Major Major



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard82.2883.7684.7186.1987.1488.6289.57
Camarilla84.9985.2285.4485.6685.8886.1186.33
Woodie82.0283.6384.4586.0686.8888.4989.31
Fibonacci83.7684.6985.2686.1987.1287.6988.62


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard81.1382.8484.2585.9687.3789.0890.49
Camarilla84.8085.0985.3785.6685.9586.2386.52
Woodie80.9882.7784.1085.8987.2289.0190.34
Fibonacci82.8484.0384.7785.9687.1587.8989.08


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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 57.95
MACD (12,26,9): 1.8300
Directional Movement: 9.92
AROON (14): 78.57
DEMA (21): 86.29
Parabolic SAR (0,02-0,02-0,2): 87.67
Elder Ray (13): 0.38
Super Trend (3,10): 81.83
Zig ZAG (10): 84.69
VORTEX (21): 1.1200
Stochastique (14,3,5): 64.62
TEMA (21): 86.49
Williams %R (14): -41.15
Chande Momentum Oscillator (20): 3.38
Repulse (5,40,3): -2.9400
ROCnROLL: -1
TRIX (15,9): 0.3600
Courbe Coppock: 10.07
MA7: 85.74
MA20: 83.84
MA50: 79.67
MA100: 75.72
MAexp7: 85.29
MAexp20: 83.77
MAexp50: 80.60
MAexp100: 78.34
Price / MA7: -1.33%
Price / MA20: +0.91%
Price / MA50: +6.19%
Price / MA100: +11.73%
Price / MAexp7: -0.81%
Price / MAexp20: +0.99%
Price / MAexp50: +4.96%
Price / MAexp100: +7.99%

Quotes : - 10 min delayed data - NYMEX Futures

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

About author

Online

Overall rating :
15124
Number of analyses :
Followers :
0
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…

Add a comment

no pic

Comments

0 comments on the analysis WTI CRUDE OIL - Daily