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 06/24/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

83%

17%

My opinion

Bullish above 77.33 USD

My targets

82.64 USD (+2.39%)

84.63 USD (+4.86%)

My analysis

In the short term, there could be an acceleration of the basic bullish trend on WTI CRUDE OIL. This is a positive signal for buyers. As long as the price remains above 77.33 USD, a purchase could be considered. The first bullish objective is located at 82.64 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 84.63 USD as an objective. Crossing it would then enable buyers to target 88.22 USD. In the event of a return below 77.33 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

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

7.3

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

Additional analysis

Quotes

The WTI CRUDE OIL price is 80.71 USD. On the day, this instrument lost -0.03% and was between 80.23 USD and 80.77 USD. This implies that the price is at +0.60% from its lowest and at -0.07% from its highest.

80.23

80.77

80.71

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

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

The Central Records scanner for higher/lower results shows an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this WTI CRUDE OIL chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

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

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	67.30	74.05	77.33	80.71	82.64	84.63	88.22
Change (%)	-16.62%	-8.25%	-4.19%	-	+2.39%	+4.86%	+9.30%
Change	-13.41	-6.66	-3.38	-	+1.93	+3.92	+7.51
Level	Major	Intermediate	Major	-	Minor	Major	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	78.68	79.52	80.12	80.96	81.56	82.40	83.00
Camarilla	80.33	80.47	80.60	80.73	80.86	80.99	81.13
Woodie	78.57	79.46	80.01	80.90	81.45	82.34	82.89
Fibonacci	79.52	80.07	80.41	80.96	81.51	81.85	82.40

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	73.50	75.37	78.05	79.92	82.60	84.47	87.15
Camarilla	79.48	79.90	80.31	80.73	81.15	81.56	81.98
Woodie	73.91	75.57	78.46	80.12	83.01	84.67	87.56
Fibonacci	75.37	77.11	78.18	79.92	81.66	82.73	84.47

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	70.01	72.71	74.48	77.18	78.95	81.65	83.42
Camarilla	75.02	75.43	75.84	76.25	76.66	77.07	77.48
Woodie	69.55	72.48	74.02	76.95	78.49	81.42	82.96
Fibonacci	72.71	74.42	75.47	77.18	78.89	79.94	81.65

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):	61.62
MACD (12,26,9):	0.8500
Directional Movement:	12.13
AROON (14):	92.86
DEMA (21):	79.32
Parabolic SAR (0,02-0,02-0,2):	75.29
Elder Ray (13):	1.40
Super Trend (3,10):	76.19
Zig ZAG (10):	80.71
VORTEX (21):	1.1400
Stochastique (14,3,5):	91.99
TEMA (21):	80.51
Williams %R (14):	-11.12
Chande Momentum Oscillator (20):	5.90
Repulse (5,40,3):	1.3400
ROCnROLL:	1
TRIX (15,9):	0.0300
Courbe Coppock:	12.89

MA7:	80.21
MA20:	77.56
MA50:	78.40
MA100:	77.86
MAexp7:	80.06
MAexp20:	78.56
MAexp50:	78.16
MAexp100:	77.42
Price / MA7:	+0.62%
Price / MA20:	+4.06%
Price / MA50:	+2.95%
Price / MA100:	+3.66%
Price / MAexp7:	+0.81%
Price / MAexp20:	+2.74%
Price / MAexp50:	+3.26%
Price / MAexp100:	+4.25%

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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