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 05/17/2024 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Neutral
Technical indicators
39%
33%
28%
My opinion
Bearish under 81.56 USD
My targets
78.55 USD (-0.96%)
75.27 USD (-5.09%)
My analysis
The current short-term bearish trend is expected to quickly fix the basic bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for WTI CRUDE OIL as long as the price remains well below 81.56 USD. The sellers' bearish objective is set at 78.55 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 75.27 USD. If there is any crossing, the next objective would be the support located at 68.52 USD.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
0.9

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

Additional analysis

Quotes

The WTI CRUDE OIL rating is 79.31 USD. The price has increased by +0.10% since the last closing with the lowest point at 79.00 USD and the highest point at 79.65 USD. The deviation from the price is +0.39% for the low point and -0.43% for the high point.

79.00
79.65
79.31

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



Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
The Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of WTI CRUDE OIL in Daily shows a neutral overall trend. The trend could quickly turn bearish due to the strong bearish 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, of the 18 technical indicators analysed by Central Analyzer, 7 are bullish, 5 are neutral and 6 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly


Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily



The analysis of the price chart with Central Patterns scanners does not return any result.

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


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 68.52 75.27 78.55 79.31 81.56 85.85 89.44
Change (%) -13.60% -5.09% -0.96% - +2.84% +8.25% +12.77%
Change -10.79 -4.04 -0.76 - +2.25 +6.54 +10.13
Level Major Intermediate Intermediate - Minor Intermediate 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
Standard76.6977.4478.3479.0979.9980.7481.64
Camarilla78.7878.9379.0879.2379.3879.5379.68
Woodie76.7677.4878.4179.1380.0680.7881.71
Fibonacci77.4478.0778.4679.0979.7280.1180.74


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard73.7175.3076.7878.3779.8581.4482.92
Camarilla77.4277.7077.9878.2678.5478.8279.10
Woodie73.6675.2776.7378.3479.8081.4182.87
Fibonacci75.3076.4777.2078.3779.5480.2781.44


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard68.6873.7576.3881.4584.0889.1591.78
Camarilla76.8877.5978.2979.0079.7180.4181.12
Woodie67.4573.1475.1580.8482.8588.5490.55
Fibonacci73.7576.7078.5181.4584.4086.2189.15

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): 45.40
MACD (12,26,9): -0.8100
Directional Movement: -9.72
AROON (14): -85.71
DEMA (21): 78.90
Parabolic SAR (0,02-0,02-0,2): 76.70
Elder Ray (13): -0.04
Super Trend (3,10): 83.34
Zig ZAG (10): 79.25
VORTEX (21): 0.9500
Stochastique (14,3,5): 32.71
TEMA (21): 77.88
Williams %R (14): -61.52
Chande Momentum Oscillator (20): 0.23
Repulse (5,40,3): 0.3100
ROCnROLL: 2
TRIX (15,9): -0.1400
Courbe Coppock: 8.11
MA7: 78.82
MA20: 80.19
MA50: 81.06
MA100: 76.99
MAexp7: 78.97
MAexp20: 79.85
MAexp50: 79.87
MAexp100: 78.33
Price / MA7: +0.62%
Price / MA20: -1.10%
Price / MA50: -2.16%
Price / MA100: +3.01%
Price / MAexp7: +0.43%
Price / MAexp20: -0.68%
Price / MAexp50: -0.70%
Price / MAexp100: +1.25%

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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