WTI crude

Technical Analysis – WTI futures stabilize near the cloud after selling pressure

Posted on September 22, 2020 at 11:30 am GMT

WTI crude oil futures had a strong selling interest over the previous, touching the 40-period simple moving average (SMA) and the Ichimoku cloud. The commodity found resistance at the 200-period SMA and the technical indicators are falling aggressively. The RSI is standing in the negative territory, while the MACD stands below the trigger line in the positive area. In the light of more negative pressures, initial tough support could develop from the 38.43 support before meeting the lower surface of the [..]

Technical Analysis – WTI futures exit from short-term symmetrical triangle

Posted on September 15, 2020 at 8:57 am GMT

WTI crude oil futures have been in a tight symmetrical triangle over the last week, failing to decline further in the short-term. The price found strong resistance around the 20-period simple moving average (SMA) and the minor descending line. The RSI indicator is pointing slightly up in the negative territory, while the MACD is increasing above the trigger line, both suggesting an upside penetration of the pattern. Should the pair stretch north, the 40-period SMA at 37.74 could provide immediate [..]

Technical Analysis – WTI continues the smooth upside movement

Posted on August 13, 2020 at 6:56 am GMT

WTI crude oil futures are moving higher with weak momentum and reached a fresh five-month high of 43.52 in the preceding days. The MACD oscillator is showing a negative divergence, suggesting slowing upside movement that is indicating a bearish reversal on price. However, the RSI is still pointing upwards in the positive territory. A clear upside rally above the 43.52 resistance could open the way for a revisit of the 48.80 barrier, registered on March 3. Breaching this level, the [..]

Technical Analysis – WTI futures fails to improve positive mode; neutral in very short-term

Posted on June 30, 2020 at 9:04 am GMT

WTI crude oil futures have been trading within a narrow range, inside the Bollinger band confirmed by the momentum indicators. The RSI is moving sideways in the positive region near the 50 level, while the MACD is flattening marginally above trigger and zero lines. The flat movement is in line with the 40-period simple moving average (SMA), which acts as support for the bears. If the price jumps above the upper Bollinger band, immediate resistance could appear at the 15-week [..]

Technical Analysis – WTI futures advance to 15-week high as bulls are back in play

Posted on June 23, 2020 at 9:34 am GMT

WTI crude oil futures came close to breaking the 15-week high of 41.21 and the upper Bollinger band in the 4-hour chart. According to the RSI, the market could maintain positive momentum as the indicator is positively sloped above its neutral threshold of 50, though the MACD oscillator is still continuing with somewhat weak momentum above the zero lines. On the upside, the price could attempt to overcome the 41.21 high and retest the 43.60 resistance, which if successfully broken the door could open for the 200-simple [..]

Technical Analysis – WTI futures fail to conquer 40-SMA; holds within narrow Bollinger band

Posted on June 16, 2020 at 7:10 am GMT

WTI oil futures over the last few sessions – as positive momentum evaporated – were unable to decisively overrun the 40-period simple moving average (SMA), remaining within the squeezed Bollinger bands that are suggesting an aggressive move if there is an exit of the channel. The short-term oscillators suggest a neutral mode for now. The MACD, in the negative region, has jumped above its red trigger line, while the rising RSI has just moved above its neutral mark. That said, the [..]

Technical Analysis – WTI futures extend bullish move towards 10-week high

Posted on May 26, 2020 at 7:28 am GMT

WTI crude oil futures are coming close to break the ten-week high of 34.63, surpassing the 20- and 40-period simple moving averages (SMAs). The short-term upside tendency has begun from April 28 and is support by an ascending trend line and the bullish crossover of the SMAs. According to the technical indicators, the RSI is extending its upside momentum, while the MACD is ready to jump above its trigger line in the bullish region. In case of steeper increases the [..]

Technical Analysis – WTI futures creates new 10-week high with SMAs crossing above

Posted on May 21, 2020 at 6:55 am GMT

WTI crude oil futures are continuing a sharp bullish tendency after the rebound on the multi-year low of 6.75. The bullish crossover within the 20- and 40-day simple moving averages (SMAs) is approving this sentiment in the near term, while the price is ready to recoup the negative gap that posted on March 9. The technical indicators are located in the bullish area, with the MACD stretching further above its red signal line and the RSI moving towards the 70 [..]

Technical Analysis – WTI futures advance above SMAs with weak momentum

Posted on May 14, 2020 at 6:42 am GMT

WTI crude oil futures are trading around the vicinity of 26.71, following the bounce off the multi-year low of 6.62 and the 10.00 handle. The price failed on a second attempt to breach this level, but it remains above the 20- and 40-day simple moving averages (SMAs). Looking at the short-term oscillators, the MACD and the RSI promote slight improvements around their neutral marks, despite diminished directional momentum. The stochastic oscillator is also turning slightly higher, while the 20- and [..]

Technical Analysis – WTI futures capped by 61.8% Fibonacci; 200-period SMA flattens

Posted on May 12, 2020 at 8:14 am GMT

WTI crude oil futures confirmed the double bottom pattern at 10.00 after the jump above the 38.2% Fibonacci retracement level of the downward wave from 54.70 to 6.75 at 18.03. The upside tendency in the short-term is now shift to neutral over the last sessions, remaining below the 61.8% Fibo of 25.00. If the price jumps above the latter level the way would open for the 26.70 resistance barrier taken from the latest high and the 30.00 round number, confirmed [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms