LIGHT CRUDE OIL ONLY0124 - Weekly - Technical analysis published on 10/31/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
LIGHT CRUDE OIL ONLY0124 Chart
One daily analysis for free from 
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 78.18 USD
My targets
86.04 USD (+4.47%)
92.21 USD (+11.96%)
My analysis
LIGHT CRUDE OIL ONLY0124 is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 78.18 USD. The next resistance located at 86.04 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 92.21 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
5.4
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 Liongate78.
Additional analysis
Quotes
LIGHT CRUDE OIL ONLY0124 rating 82.36 USD. Over 5 days, this instrument lost -0.74% and has been traded over the last 5 days between 81.16 USD and 85.00 USD. This implies that the 5 day price is +1.48% from its lowest point and -3.11% from its highest point.81.16
85.00
82.36
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by LIGHT CRUDE OIL ONLY0124:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of LIGHT CRUDE OIL ONLY0124 in Weekly shows a strongly overall bullish trend. 89.29% 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. 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: 4 are bullish, 8 are neutral and 6 are bearish. The Central Indicators scanner found this result concerning these indicators:
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 47.68 | 66.30 | 78.18 | 82.36 | 86.04 | 92.21 |
| Change (%) | -42.11% | -19.50% | -5.08% | - | +4.47% | +11.96% |
| Change | -34.68 | -16.06 | -4.18 | - | +3.68 | +9.85 |
| Level | Minor | Major | Major | - | Intermediate | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 77.20 | 79.18 | 80.43 | 82.41 | 83.66 | 85.64 | 86.89 |
| Camarilla | 80.79 | 81.09 | 81.38 | 81.68 | 81.98 | 82.27 | 82.57 |
| Woodie | 76.84 | 79.00 | 80.07 | 82.23 | 83.30 | 85.46 | 86.53 |
| Fibonacci | 79.18 | 80.41 | 81.18 | 82.41 | 83.64 | 84.41 | 85.64 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 76.20 | 78.82 | 81.76 | 84.38 | 87.32 | 89.94 | 92.88 |
| Camarilla | 83.17 | 83.68 | 84.19 | 84.70 | 85.21 | 85.72 | 86.23 |
| Woodie | 76.36 | 78.90 | 81.92 | 84.46 | 87.48 | 90.02 | 93.04 |
| Fibonacci | 78.82 | 80.94 | 82.26 | 84.38 | 86.50 | 87.82 | 89.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 75.54 | 79.15 | 83.06 | 86.67 | 90.58 | 94.19 | 98.10 |
| Camarilla | 84.91 | 85.60 | 86.29 | 86.98 | 87.67 | 88.36 | 89.05 |
| Woodie | 75.70 | 79.23 | 83.22 | 86.75 | 90.74 | 94.27 | 98.26 |
| Fibonacci | 79.15 | 82.02 | 83.79 | 86.67 | 89.54 | 91.31 | 94.19 |
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): | 53.62 | |
| MACD (12,26,9): | 2.8700 | |
| Directional Movement: | 4.88 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 84.86 | |
| Parabolic SAR (0,02-0,02-0,2): | 89.60 | |
| Elder Ray (13): | -0.04 | |
| Super Trend (3,10): | 75.78 | |
| Zig ZAG (10): | 82.34 | |
| VORTEX (21): | 1.1400 | |
| Stochastique (14,3,5): | 61.49 | |
| TEMA (21): | 86.63 | |
| Williams %R (14): | -59.47 | |
| Chande Momentum Oscillator (20): | 1.20 | |
| Repulse (5,40,3): | -2.1600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.5400 | |
| Courbe Coppock: | 25.27 |
| MA7: | 83.32 | |
| MA20: | 83.21 | |
| MA50: | 84.09 | |
| MA100: | 79.49 | |
| MAexp7: | 83.98 | |
| MAexp20: | 81.22 | |
| MAexp50: | 77.87 | |
| MAexp100: | 74.31 | |
| Price / MA7: | -1.15% | |
| Price / MA20: | -1.02% | |
| Price / MA50: | -2.06% | |
| Price / MA100: | +3.61% | |
| Price / MAexp7: | -1.93% | |
| Price / MAexp20: | +1.40% | |
| Price / MAexp50: | +5.77% | |
| Price / MAexp100: | +10.83% |
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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