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 02/11/2023 (GMT)

Timeframe : Daily
- Analysis generated on
Status : NEUTRAL

Summary of the analysis

Trends

Short term: Bullish

Underlying: Slightly bearish

Technical indicators

56%

17%

28%

My opinion

Neutral between 76.54 USD and 81.58 USD

My targets

My analysis

The short-term increase on WTI CRUDE OIL remains moderate but could challenge the slightly bearish basic trend. It is difficult to advise a trading direction under these conditions. The first resistance is located at 81.58 USD. The first support is located at 76.54 USD. You could remain on the sidelines waiting for a more pronounced price movement on this instrument. A new analysis could then be carried out to provide clearer signals.

In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.

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 Pasqual32. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 79.72 USD. The price has increased by +2.13% since the last closing and was between 77.47 USD and 80.33 USD. This implies that the price is at +2.90% from its lowest and at -0.76% from its highest.

77.47

80.33

79.72

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of WTI CRUDE OIL indicates that the overall trend is slightly bearish. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend could turn neutral or reverse given the slightly bullish signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : Daily

Bearish trend reversal : Moving Average 50

Type : Bearish

Timeframe : Daily

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily

In fact, 10 technical indicators on 18 studied are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Daily

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

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish engulfing lines

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	57.59	72.99	76.54	79.72	81.58	94.24	106.22
Change (%)	-27.76%	-8.44%	-3.99%	-	+2.33%	+18.21%	+33.24%
Change	-22.13	-6.73	-3.18	-	+1.86	+14.52	+26.50
Level	Major	Major	Intermediate	-	Intermediate	Major	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	74.45	75.49	76.77	77.81	79.09	80.13	81.41
Camarilla	77.42	77.64	77.85	78.06	78.27	78.49	78.70
Woodie	74.58	75.55	76.90	77.87	79.22	80.19	81.54
Fibonacci	75.49	76.37	76.92	77.81	78.69	79.24	80.13

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	63.44	68.27	70.83	75.66	78.22	83.05	85.61
Camarilla	71.36	72.04	72.71	73.39	74.07	74.75	75.42
Woodie	62.31	67.70	69.70	75.09	77.09	82.48	84.48
Fibonacci	68.27	71.09	72.84	75.66	78.48	80.23	83.05

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	61.97	67.36	71.89	77.28	81.81	87.20	91.73
Camarilla	73.68	74.59	75.50	76.41	77.32	78.23	79.14
Woodie	61.53	67.15	71.45	77.07	81.37	86.99	91.29
Fibonacci	67.36	71.15	73.49	77.28	81.07	83.41	87.20

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):	54.83
MACD (12,26,9):	-0.2400
Directional Movement:	1.90
AROON (14):	-71.43
DEMA (21):	77.67
Parabolic SAR (0,02-0,02-0,2):	72.38
Elder Ray (13):	1.06
Super Trend (3,10):	81.92
Zig ZAG (10):	79.76
VORTEX (21):	1.0000
Stochastique (14,3,5):	63.07
TEMA (21):	77.70
Williams %R (14):	-26.59
Chande Momentum Oscillator (20):	-0.39
Repulse (5,40,3):	4.6400
ROCnROLL:	1
TRIX (15,9):	-0.0300
Courbe Coppock:	8.12

MA7:	76.69
MA20:	78.71
MA50:	77.51
MA100:	81.26
MAexp7:	77.84
MAexp20:	77.96
MAexp50:	78.83
MAexp100:	81.39
Price / MA7:	+3.95%
Price / MA20:	+1.28%
Price / MA50:	+2.85%
Price / MA100:	-1.90%
Price / MAexp7:	+2.42%
Price / MAexp20:	+2.26%
Price / MAexp50:	+1.13%
Price / MAexp100:	-2.05%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

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

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