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 12/05/2024 (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

28%

22%

50%

My opinion

Bearish under 71.20 USD

My targets

67.09 USD (-2.53%)

63.13 USD (-8.28%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 71.20 USD. The sellers' bearish objective is set at 67.09 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 63.13 USD. In case of crossing, the next objective would be the support located at 56.59 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

5.2

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 CREAM89. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL rating is 68.83 USD. On the day, this instrument gained +0.42% and was between 67.98 USD and 69.16 USD. This implies that the price is at +1.25% from its lowest and at -0.48% from its highest.

67.98

69.16

68.83

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

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. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
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.

The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:

White hanging man / hammer

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	63.13	67.09	68.34	68.83	71.20	73.08	76.63
Change (%)	-8.28%	-2.53%	-0.71%	-	+3.44%	+6.17%	+11.33%
Change	-5.70	-1.74	-0.49	-	+2.37	+4.25	+7.80
Level	Major	Major	Intermediate	-	Intermediate	Minor	Intermediate

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	65.83	67.16	67.85	69.18	69.87	71.20	71.89
Camarilla	67.99	68.17	68.36	68.54	68.73	68.91	69.10
Woodie	65.51	67.00	67.53	69.02	69.55	71.04	71.57
Fibonacci	67.16	67.93	68.41	69.18	69.95	70.43	71.20

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	63.14	65.51	66.75	69.12	70.36	72.73	73.97
Camarilla	67.01	67.34	67.67	68.00	68.33	68.66	68.99
Woodie	62.59	65.23	66.20	68.84	69.81	72.45	73.42
Fibonacci	65.51	66.89	67.74	69.12	70.50	71.35	72.73

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	59.17	62.89	65.44	69.16	71.71	75.43	77.98
Camarilla	66.28	66.85	67.43	68.00	68.58	69.15	69.72
Woodie	58.60	62.60	64.87	68.87	71.14	75.14	77.41
Fibonacci	62.89	65.28	66.76	69.16	71.55	73.03	75.43

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	47.48
MACD (12,26,9):	-0.3500
Directional Movement:	-0.69
AROON (14):	28.57
DEMA (21):	68.65
Parabolic SAR (0,02-0,02-0,2):	71.29
Elder Ray (13):	-0.41
Super Trend (3,10):	66.73
Zig ZAG (10):	68.66
VORTEX (21):	0.9500
Stochastique (14,3,5):	49.97
TEMA (21):	68.61
Williams %R (14):	-58.45
Chande Momentum Oscillator (20):	-0.60
Repulse (5,40,3):	-1.3200
ROCnROLL:	2
TRIX (15,9):	-0.0800
Courbe Coppock:	0.06

MA7:	68.69
MA20:	68.88
MA50:	70.15
MA100:	70.93
MAexp7:	68.82
MAexp20:	69.11
MAexp50:	69.83
MAexp100:	70.70
Price / MA7:	+0.20%
Price / MA20:	-0.07%
Price / MA50:	-1.88%
Price / MA100:	-2.96%
Price / MAexp7:	+0.03%
Price / MAexp20:	-0.39%
Price / MAexp50:	-1.42%
Price / MAexp100:	-2.63%

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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