WTI CRUDE OIL
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 10/23/2024 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Bearish
Underlying: Bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 72.78 USD
My targets
68.35 USD (-2.99%)
63.14 USD (-10.39%)
My analysis
There is a bearish trend on WTI CRUDE OIL both at the basic level and in the short term. A sale could be considered, so long as the price remains below 72.78 USD. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 68.35 USD. Then the price could move towards 63.14 USD. Then 56.60 USD by extension. Be careful, a return to above the resistance 72.78 USD would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
4.6

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:
15 min. 1H Weekly

Additional analysis

Quotes

The WTI CRUDE OIL rating is 70.46 USD. On the day, this instrument lost -1.78% and was traded between 70.13 USD and 71.72 USD over the period. The price is currently at +0.47% from its lowest and -1.76% from its highest.

70.13
71.72
70.46

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Central Gaps

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:

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 at 75.00% bearish. This bearish trend shows slight signs of slowing down given the slightly bearish signals of short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Central Indicators

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : Daily


Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : Daily



In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 4 are neutral and 9 are bearish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

MACD indicator: bearish divergence

Type : Bearish

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

RSI indicator is back under 50

Type : Bearish

Timeframe : Daily


MACD indicator is back under 0

Type : Bearish

Timeframe : Daily


Ichimoku - Bearish crossover : Tenkan & Kijun

Type : Bearish

Timeframe : Daily


Price is back under the pivot point

Type : Bearish

Timeframe : Daily



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

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

Central Candlesticks

Bearish harami

Type : Bearish

Timeframe : Daily




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 63.14 68.35 70.41 70.46 72.78 76.64 78.48
Change (%) -10.39% -2.99% -0.07% - +3.29% +8.77% +11.38%
Change -7.32 -2.11 -0.05 - +2.32 +6.18 +8.02
Level Major Intermediate Major - Intermediate Intermediate Minor



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

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard67.2968.3270.0371.0672.7773.8075.51
Camarilla70.9971.2471.4971.7471.9972.2472.49
Woodie67.6368.4970.3771.2373.1173.9775.85
Fibonacci68.3269.3770.0171.0672.1172.7573.80


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard60.0264.1166.4170.5072.8076.8979.19
Camarilla66.9667.5568.1368.7269.3169.8970.48
Woodie59.1463.6665.5370.0571.9276.4478.31
Fibonacci64.1166.5568.0670.5072.9474.4576.89


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard55.3059.5464.4468.6873.5877.8282.72
Camarilla66.8267.6568.4969.3370.1771.0171.84
Woodie55.6259.7164.7668.8573.9077.9983.04
Fibonacci59.5463.0465.1968.6872.1874.3377.82

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): 48.40
MACD (12,26,9): -0.0100
Directional Movement: 2.23
AROON (14): -57.14
DEMA (21): 71.17
Parabolic SAR (0,02-0,02-0,2): 75.00
Elder Ray (13): -0.17
Super Trend (3,10): 66.74
Zig ZAG (10): 70.48
VORTEX (21): 0.9600
Stochastique (14,3,5): 26.17
TEMA (21): 71.27
Williams %R (14): -77.07
Chande Momentum Oscillator (20): -6.21
Repulse (5,40,3): 0.6600
ROCnROLL: 2
TRIX (15,9): 0.0700
Courbe Coppock: 0.19
MA7: 70.15
MA20: 71.29
MA50: 70.76
MA100: 73.18
MAexp7: 70.80
MAexp20: 71.08
MAexp50: 71.39
MAexp100: 72.08
Price / MA7: +0.44%
Price / MA20: -1.16%
Price / MA50: -0.42%
Price / MA100: -3.72%
Price / MAexp7: -0.48%
Price / MAexp20: -0.87%
Price / MAexp50: -1.30%
Price / MAexp100: -2.25%

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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