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 09/11/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

67%

17%

My opinion

Bearish under 69.72 USD

My targets

64.62 USD (-3.47%)

62.10 USD (-7.23%)

My analysis

WTI CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 69.72 USD. The next support located at 64.62 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 62.10 USD. Below this support, sellers could then target 58.08 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

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

Force

7.7

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

Additional analysis

Quotes

The WTI CRUDE OIL price is 66.94 USD. The price has increased by +1.81% since the last closing and was traded between 65.91 USD and 67.10 USD over the period. The price is currently at +1.56% from its lowest and -0.24% from its highest.

65.91

67.10

66.94

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

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

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 a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 12 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

CCI 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

The Central Indicators scanner found this result concerning these indicators:

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

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

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

Bullish harami

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	58.08	62.10	64.62	66.94	71.91	74.28	77.42
Change (%)	-13.24%	-7.23%	-3.47%	-	+7.42%	+10.97%	+15.66%
Change	-8.86	-4.84	-2.32	-	+4.97	+7.34	+10.48
Level	Major	Minor	Major	-	Major	Intermediate	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	60.51	62.89	64.32	66.70	68.13	70.51	71.94
Camarilla	64.70	65.05	65.40	65.75	66.10	66.45	66.80
Woodie	60.04	62.65	63.85	66.46	67.66	70.27	71.47
Fibonacci	62.89	64.35	65.25	66.70	68.16	69.06	70.51

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	57.85	62.51	65.09	69.75	72.33	76.99	79.57
Camarilla	65.68	66.34	67.01	67.67	68.33	69.00	69.66
Woodie	56.81	61.99	64.05	69.23	71.29	76.47	78.53
Fibonacci	62.51	65.28	66.98	69.75	72.52	74.22	76.99

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	61.23	65.90	69.72	74.39	78.21	82.88	86.70
Camarilla	71.22	71.99	72.77	73.55	74.33	75.11	75.89
Woodie	60.82	65.69	69.31	74.18	77.80	82.67	86.29
Fibonacci	65.90	69.14	71.14	74.39	77.63	79.63	82.88

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):	35.71
MACD (12,26,9):	-2.2500
Directional Movement:	-18.96
AROON (14):	-78.57
DEMA (21):	68.84
Parabolic SAR (0,02-0,02-0,2):	73.45
Elder Ray (13):	-3.83
Super Trend (3,10):	73.67
Zig ZAG (10):	66.80
VORTEX (21):	0.7700
Stochastique (14,3,5):	10.38
TEMA (21):	67.43
Williams %R (14):	-87.27
Chande Momentum Oscillator (20):	-10.57
Repulse (5,40,3):	-4.1800
ROCnROLL:	2
TRIX (15,9):	-0.2800
Courbe Coppock:	15.90

MA7:	68.25
MA20:	72.39
MA50:	75.17
MA100:	75.52
MAexp7:	68.52
MAexp20:	71.46
MAexp50:	73.86
MAexp100:	74.81
Price / MA7:	-1.92%
Price / MA20:	-7.53%
Price / MA50:	-10.95%
Price / MA100:	-11.36%
Price / MAexp7:	-2.31%
Price / MAexp20:	-6.33%
Price / MAexp50:	-9.37%
Price / MAexp100:	-10.52%

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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