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 04/06/2021 (GMT)

Londinia

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!

Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Bearish

De fond: Bullish

Technical indicators

22%

44%

33%

My opinion

Bullish above 56.47 USD

My targets

62.23 USD (+4.85%)

63.20 USD (+6.49%)

My analysis

The basic trend is bullish on WTI CRUDE OIL and in the short term, the price is attempting to correct. For the time being, this is only a simple technical correction and the basic trend is not threatened. For the correction to be confirmed, it would have to at least return to below the support 56.47 USD. Sellers would then use the next support located at 53.52 USD as an objective. Crossing it would then enable sellers to target 51.10 USD. If there is a return to above the resistance located at 62.23 USD, this would be a sign of a reversal in the basic bullish trend. The next bullish objectives will be 63.20 USD and 66.08 USD by extension.

In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.

Force

0.7

Comment on the analysis

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 SuperLubeCrude. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL price is 59.35 USD. The price registered an increase of +1.19% on the session and was between 58.62 USD and 59.57 USD. This implies that the price is at +1.25% from its lowest and at -0.37% from its highest.

58.62

59.57

59.35

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.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in Daily shows an overall bullish trend. The signals given by moving averages are 67.86% bullish. This bullish trend could slow down given the slightly bearish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Moving Average bearish crossovers : AMA20 & AMA50

Type : Bearish

Timeframe : Daily

Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : Daily

Bearish price crossover with adaptative moving average 100

Type : Bearish

Timeframe : Daily

The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator: bearish divergence

Type : Bearish

Timeframe : Daily

CCI indicator: bullish divergence

Type : Bullish

Timeframe : Daily

MACD indicator: bullish divergence

Type : Bullish

Timeframe : Daily

RSI indicator: bullish divergence

Type : Bullish

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Pivot points : price is under support 3

Type : Neutral

Timeframe : Daily

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

RSI indicator is back under 50

Type : Bearish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

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:

Bearish engulfing lines

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	42.63	51.10	53.52	59.35	63.20	66.08	76.38
Change (%)	-28.17%	-13.90%	-9.82%	-	+6.49%	+11.34%	+28.69%
Change	-16.72	-8.25	-5.83	-	+3.85	+6.73	+17.03
Level	Major	Major	Minor	-	Major	Major	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	53.15	55.39	57.02	59.26	60.89	63.13	64.76
Camarilla	57.59	57.94	58.30	58.65	59.01	59.36	59.71
Woodie	52.85	55.24	56.72	59.11	60.59	62.98	64.46
Fibonacci	55.39	56.87	57.78	59.26	60.74	61.65	63.13

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	56.02	57.44	59.44	60.86	62.86	64.28	66.28
Camarilla	60.51	60.82	61.14	61.45	61.76	62.08	62.39
Woodie	56.32	57.59	59.74	61.01	63.16	64.43	66.58
Fibonacci	57.44	58.74	59.55	60.86	62.16	62.97	64.28

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	45.74	51.50	56.47	62.23	67.20	72.96	77.93
Camarilla	58.50	59.48	60.47	61.45	62.43	63.42	64.40
Woodie	45.36	51.30	56.09	62.03	66.82	72.76	77.55
Fibonacci	51.50	55.60	58.13	62.23	66.33	68.86	72.96

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	46.43
MACD (12,26,9):	-0.3600
Directional Movement:	-8.40
AROON (14):	-35.71
DEMA (21):	60.74
Parabolic SAR (0,02-0,02-0,2):	64.28
Elder Ray (13):	-1.45
Super Trend (3,10):	67.13
Zig ZAG (10):	59.32
VORTEX (21):	0.9000
Stochastique (14,3,5):	29.49
TEMA (21):	59.19
Williams %R (14):	-74.91
Chande Momentum Oscillator (20):	-0.70
Repulse (5,40,3):	-1.3400
ROCnROLL:	-1
TRIX (15,9):	0.0200
Courbe Coppock:	13.38

MA7:	60.25
MA20:	61.85
MA50:	60.12
MA100:	53.93
MAexp7:	59.99
MAexp20:	60.86
MAexp50:	59.23
MAexp100:	54.87
Price / MA7:	-1.49%
Price / MA20:	-4.04%
Price / MA50:	-1.28%
Price / MA100:	+10.05%
Price / MAexp7:	-1.07%
Price / MAexp20:	-2.48%
Price / MAexp50:	+0.20%
Price / MAexp100:	+8.16%

Quotes : 2021-04-06 06:17:17 - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:

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

About author

Londinia AI

Online

Overall rating :

15380

Number of analyses :

87245

Followers :

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…