MINI CRUDE OIL FULL0624 - Weekly - Technical analysis published on 06/08/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
33%
22%
44%
My opinion
Bearish under 76.258 USD
My targets
66.800 USD (-8.40%)
57.617 USD (-20.99%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on MINI CRUDE OIL FULL0723 as long as the price remains well below 76.258 USD. The sellers' bearish objective is set at 66.800 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 57.617 USD. In case of crossing, the next objective would be the support located at 52.467 USD.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.6
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 Proenergyfm. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MINI CRUDE OIL FULL0723 rating 72.925 USD. The price registered an increase of +4.03% over 5 days and has been traded over the last 5 days between 70.125 USD and 75.000 USD. This implies that the 5 day price is +3.99% from its lowest point and -2.77% from its highest point.70.125
75.000
72.925
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of MINI CRUDE OIL FULL0723 in Weekly shows an overall bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend is reinforced by the strong 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.
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:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 33.735 | 52.467 | 66.800 | 72.925 | 82.808 | 93.102 | 120.710 |
| Change (%) | -53.74% | -28.05% | -8.40% | - | +13.55% | +27.67% | +65.53% |
| Change | -39.190 | -20.458 | -6.125 | - | +9.883 | +20.177 | +47.785 |
| Level | Intermediate | Major | Major | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.158 | 70.092 | 71.308 | 72.242 | 73.458 | 74.392 | 75.608 |
| Camarilla | 71.934 | 72.131 | 72.328 | 72.525 | 72.722 | 72.919 | 73.116 |
| Woodie | 69.300 | 70.163 | 71.450 | 72.313 | 73.600 | 74.463 | 75.750 |
| Fibonacci | 70.092 | 70.913 | 71.420 | 72.242 | 73.063 | 73.570 | 74.392 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.508 | 64.267 | 68.008 | 70.767 | 74.508 | 77.267 | 81.008 |
| Camarilla | 69.963 | 70.558 | 71.154 | 71.750 | 72.346 | 72.942 | 73.538 |
| Woodie | 62.000 | 64.513 | 68.500 | 71.013 | 75.000 | 77.513 | 81.500 |
| Fibonacci | 64.267 | 66.750 | 68.284 | 70.767 | 73.250 | 74.784 | 77.267 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51.458 | 57.617 | 63.858 | 70.017 | 76.258 | 82.417 | 88.658 |
| Camarilla | 66.690 | 67.827 | 68.963 | 70.100 | 71.237 | 72.373 | 73.510 |
| Woodie | 51.500 | 57.638 | 63.900 | 70.038 | 76.300 | 82.438 | 88.700 |
| Fibonacci | 57.617 | 62.354 | 65.280 | 70.017 | 74.754 | 77.680 | 82.417 |
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): | 45.89 | |
| MACD (12,26,9): | -2.4750 | |
| Directional Movement: | -13.455 | |
| AROON (14): | -21.429 | |
| DEMA (21): | 71.928 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.469 | |
| Elder Ray (13): | -1.540 | |
| Super Trend (3,10): | 89.369 | |
| Zig ZAG (10): | 73.075 | |
| VORTEX (21): | 0.9420 | |
| Stochastique (14,3,5): | 44.49 | |
| TEMA (21): | 71.623 | |
| Williams %R (14): | -53.13 | |
| Chande Momentum Oscillator (20): | 6.150 | |
| Repulse (5,40,3): | -0.4360 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.4740 | |
| Courbe Coppock: | 7.60 |
| MA7: | 71.336 | |
| MA20: | 71.729 | |
| MA50: | 74.782 | |
| MA100: | 75.433 | |
| MAexp7: | 73.015 | |
| MAexp20: | 75.356 | |
| MAexp50: | 78.455 | |
| MAexp100: | 75.029 | |
| Price / MA7: | +2.23% | |
| Price / MA20: | +1.67% | |
| Price / MA50: | -2.48% | |
| Price / MA100: | -3.32% | |
| Price / MAexp7: | -0.12% | |
| Price / MAexp20: | -3.23% | |
| Price / MAexp50: | -7.05% | |
| Price / MAexp100: | -2.80% |
Quotes :
-
10 min delayed data
-
NYMEX E-mini Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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