WTI CRUDE OIL - Daily - Technical analysis published on 08/17/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
33%
22%
44%
My opinion
Bearish under 59.11 USD
My targets
54.37 USD (-0.91%)
51.11 USD (-6.85%)
My analysis
WTI CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 59.11 USD. The next support located at 54.37 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 51.11 USD. Below this support, sellers could then target 47.80 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
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 hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 54.87 USD. On the day, this instrument gained +0.73% and was traded between 54.26 USD and 55.67 USD over the period. The price is currently at +1.12% from its lowest and -1.44% from its highest.54.26
55.67
54.87
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in Daily of this WTI CRUDE OIL chart shows a sharp bearish trend. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 8 are neutral and 4 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
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:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 47.80 | 51.11 | 54.37 | 54.87 | 59.11 | 63.26 | 66.25 |
| Change (%) | -12.89% | -6.85% | -0.91% | - | +7.73% | +15.29% | +20.74% |
| Change | -7.07 | -3.76 | -0.50 | - | +4.24 | +8.39 | +11.38 |
| Level | Intermediate | Major | Major | - | Intermediate | Minor | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 50.97 | 52.47 | 53.85 | 55.35 | 56.73 | 58.23 | 59.61 |
| Camarilla | 54.44 | 54.70 | 54.97 | 55.23 | 55.49 | 55.76 | 56.02 |
| Woodie | 50.91 | 52.44 | 53.79 | 55.32 | 56.67 | 58.20 | 59.55 |
| Fibonacci | 52.47 | 53.57 | 54.25 | 55.35 | 56.45 | 57.13 | 58.23 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48.00 | 50.79 | 53.23 | 56.02 | 58.46 | 61.25 | 63.69 |
| Camarilla | 54.22 | 54.70 | 55.18 | 55.66 | 56.14 | 56.62 | 57.10 |
| Woodie | 47.82 | 50.70 | 53.05 | 55.93 | 58.28 | 61.16 | 63.51 |
| Fibonacci | 50.79 | 52.79 | 54.03 | 56.02 | 58.02 | 59.26 | 61.25 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49.00 | 51.86 | 55.22 | 58.08 | 61.44 | 64.30 | 67.66 |
| Camarilla | 56.87 | 57.44 | 58.01 | 58.58 | 59.15 | 59.72 | 60.29 |
| Woodie | 49.25 | 51.99 | 55.47 | 58.21 | 61.69 | 64.43 | 67.91 |
| Fibonacci | 51.86 | 54.24 | 55.70 | 58.08 | 60.46 | 61.92 | 64.30 |
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): | 46.36 | |
| MACD (12,26,9): | -0.6200 | |
| Directional Movement: | -2.83 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 54.57 | |
| Parabolic SAR (0,02-0,02-0,2): | 50.80 | |
| Elder Ray (13): | -0.51 | |
| Super Trend (3,10): | 58.30 | |
| Zig ZAG (10): | 54.47 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 61.20 | |
| TEMA (21): | 54.33 | |
| Williams %R (14): | -52.41 | |
| Chande Momentum Oscillator (20): | -3.58 | |
| Repulse (5,40,3): | 0.9600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1700 | |
| Courbe Coppock: | 7.05 |
| MA7: | 54.27 | |
| MA20: | 55.40 | |
| MA50: | 56.09 | |
| MA100: | 58.74 | |
| MAexp7: | 54.88 | |
| MAexp20: | 55.39 | |
| MAexp50: | 56.39 | |
| MAexp100: | 57.23 | |
| Price / MA7: | +1.11% | |
| Price / MA20: | -0.96% | |
| Price / MA50: | -2.18% | |
| Price / MA100: | -6.59% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.94% | |
| Price / MAexp50: | -2.70% | |
| Price / MAexp100: | -4.12% |
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
-
WTI Crude Oil and Natural Gas Forecast August 19, 2019
-
WTI Crude Oil and Natural Gas Forecast August 16, 2019
-
WTI Crude Oil and Natural Gas Forecast August 15, 2019
-
WTI Crude Oil and Natural Gas Forecast August 14, 2019
-
WTI Crude Oil and Natrual Gas Forecast August 13, 2019
This member declared not having a position on this financial instrument or a related financial instrument.
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