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 02/08/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

17%

39%

44%

My opinion

Bearish under 77.12 USD

My targets

71.23 USD (-3.93%)

68.84 USD (-7.15%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 77.12 USD remains possible. It is advisable to trade WTI CRUDE OIL with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 77.12 USD. The next bearish objective for sellers is set at 71.23 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 68.84 USD. In case of crossing, the next objective would be the support located at 64.66 USD. PS: if there is a bullish break in the resistance located at 77.12 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

4.6

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 jann1414. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 74.14 USD. On the day, this instrument gained +0.38% with the lowest point at 73.86 USD and the highest point at 74.27 USD. The deviation from the price is +0.38% for the low point and -0.18% for the high point.

73.86

74.27

74.14

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

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of WTI CRUDE OIL indicates that the overall trend is bearish. The signals given by moving averages are 78.57% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	51.21	64.66	71.23	74.14	77.99	80.90	88.76
Change (%)	-30.93%	-12.79%	-3.93%	-	+5.19%	+9.12%	+19.72%
Change	-22.93	-9.48	-2.91	-	+3.85	+6.76	+14.62
Level	Minor	Minor	Major	-	Major	Intermediate	Minor

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	72.48	72.85	73.47	73.84	74.46	74.83	75.45
Camarilla	73.81	73.90	73.99	74.08	74.17	74.26	74.35
Woodie	72.60	72.91	73.59	73.90	74.58	74.89	75.57
Fibonacci	72.85	73.23	73.47	73.84	74.22	74.46	74.83

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	62.12	66.95	69.62	74.45	77.12	81.95	84.62
Camarilla	70.22	70.91	71.59	72.28	72.97	73.66	74.34
Woodie	61.03	66.41	68.53	73.91	76.03	81.41	83.53
Fibonacci	66.95	69.82	71.59	74.45	77.32	79.09	81.95

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	58.63	63.85	68.84	74.06	79.05	84.27	89.26
Camarilla	71.01	71.95	72.88	73.82	74.76	75.69	76.63
Woodie	58.51	63.79	68.72	74.00	78.93	84.21	89.14
Fibonacci	63.85	67.75	70.16	74.06	77.96	80.37	84.27

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):	50.22
MACD (12,26,9):	0.1500
Directional Movement:	-1.19
AROON (14):	-35.71
DEMA (21):	74.41
Parabolic SAR (0,02-0,02-0,2):	77.62
Elder Ray (13):	-0.18
Super Trend (3,10):	70.65
Zig ZAG (10):	74.16
VORTEX (21):	1.0600
Stochastique (14,3,5):	30.96
TEMA (21):	74.71
Williams %R (14):	-65.10
Chande Momentum Oscillator (20):	-0.21
Repulse (5,40,3):	0.2400
ROCnROLL:	2
TRIX (15,9):	0.0900
Courbe Coppock:	2.55

MA7:	73.75
MA20:	74.34
MA50:	73.15
MA100:	78.03
MAexp7:	74.08
MAexp20:	74.15
MAexp50:	74.54
MAexp100:	75.85
Price / MA7:	+0.53%
Price / MA20:	-0.27%
Price / MA50:	+1.35%
Price / MA100:	-4.99%
Price / MAexp7:	+0.08%
Price / MAexp20:	-0.01%
Price / MAexp50:	-0.54%
Price / MAexp100:	-2.25%

Quotes : - 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.

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