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 04/03/2023 (GMT)

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Timeframe : Daily
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Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bullish

Technical indicators

72%

22%

My opinion

Bullish above 76.97 USD

My targets

82.37 USD (+2.48%)

86.04 USD (+7.04%)

My analysis

WTI CRUDE OIL is currently trying to strengthen its basic trend with a very bullish short term. As long as the price remains above 76.97 USD, traders may consider taking advantage of this bullish acceleration and setting themselves to trade only long positions (at the time of purchase). Buyers will encounter the resistance at 82.37 USD. A bullish break in this resistance would confirm a continuation of the bullish acceleration. The next resistance located at 86.04 USD would then be the next bullish objective for buyers. Crossing it would then enable buyers to target 94.67 USD. Beware of a possible return to under the support located at 76.97 USD which would be the sign of a correction of the bullish excesses registered in the short term.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

4.3

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

Additional analysis

Quotes

The WTI CRUDE OIL rating is 80.38 USD. The price registered an increase of +6.22% on the session with the lowest point at 79.00 USD and the highest point at 81.69 USD. The deviation from the price is +1.75% for the low point and -1.60% for the high point.

79.00

81.69

80.38

The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:

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

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in Daily shows an overall slightly bullish trend. Only 53.57% of the signals given by moving averages are bullish. This slightly bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily

An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Aroon indicator bullish trend

Type : Bullish

Timeframe : Daily

Ichimoku : price is over the cloud

Type : Bullish

Timeframe : Daily

SuperTrend indicator bullish reversal

Type : Bullish

Timeframe : Daily

Ichimoku - Bullish crossover : Tenkan & Kijun

Type : Bullish

Timeframe : Daily

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Upside gap

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	66.94	73.42	76.97	80.38	82.37	86.04	94.67
Change (%)	-16.72%	-8.66%	-4.24%	-	+2.48%	+7.04%	+17.78%
Change	-13.44	-6.96	-3.41	-	+1.99	+5.66	+14.29
Level	Major	Major	Minor	-	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	72.44	73.10	74.39	75.05	76.34	77.00	78.29
Camarilla	75.13	75.31	75.49	75.67	75.85	76.03	76.21
Woodie	72.75	73.26	74.70	75.21	76.65	77.16	78.60
Fibonacci	73.10	73.85	74.31	75.05	75.80	76.26	77.00

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	64.70	66.92	71.29	73.51	77.88	80.10	84.47
Camarilla	73.86	74.46	75.07	75.67	76.27	76.88	77.48
Woodie	65.79	67.46	72.38	74.05	78.97	80.64	85.56
Fibonacci	66.92	69.43	70.99	73.51	76.02	77.58	80.10

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	49.53	56.94	66.31	73.72	83.09	90.50	99.87
Camarilla	71.06	72.59	74.13	75.67	77.21	78.75	80.29
Woodie	50.50	57.43	67.28	74.21	84.06	90.99	100.84
Fibonacci	56.94	63.35	67.31	73.72	80.13	84.09	90.50

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):	65.64
MACD (12,26,9):	-0.1100
Directional Movement:	12.40
AROON (14):	71.43
DEMA (21):	73.13
Parabolic SAR (0,02-0,02-0,2):	67.16
Elder Ray (13):	6.48
Super Trend (3,10):	70.96
Zig ZAG (10):	80.69
VORTEX (21):	0.9900
Stochastique (14,3,5):	89.40
TEMA (21):	74.11
Williams %R (14):	-6.52
Chande Momentum Oscillator (20):	12.03
Repulse (5,40,3):	4.4800
ROCnROLL:	1
TRIX (15,9):	-0.2700
Courbe Coppock:	2.72

MA7:	74.10
MA20:	72.74
MA50:	75.94
MA100:	77.49
MAexp7:	75.01
MAexp20:	73.83
MAexp50:	75.40
MAexp100:	78.24
Price / MA7:	+8.48%
Price / MA20:	+10.50%
Price / MA50:	+5.85%
Price / MA100:	+3.73%
Price / MAexp7:	+7.16%
Price / MAexp20:	+8.87%
Price / MAexp50:	+6.60%
Price / MAexp100:	+2.74%

Quotes : - 10 min delayed data - NYMEX Futures

News

Don't forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news was as follows:

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

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