*** Comments prior to evaluation summary ***
This a MONTHLY chart analysis of WTI Oil.
This one currently is a difficult thing to analyze. It has a directional desire and yet being a time based contract which is dependent on consumption of a resource - it also has a failure target of -1.06
Be cautious entering into trades. I would place stops within 1x ATR of entry. Current ATR is 10.87 - However, that is still a lot of risk - so adjust your stops based on YOUR risk factor.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Monthly: The relationship to the primary trend MA is bearish. The price in relationship to the other averages suggest short positions
Price Action:
Monthly: The average price range currently is 10.87 points/ticks/pips. Prices are currently 2.96x the normal trading range. Prices can encounter consolidation and begin transitioning counter trend.
Standard Deviation
Monthly: Standard deviation suggests a range from 7.17 to 30.92 for the following month.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Monthly: Trend strength suggests a trade range of 8.83 to 19.70 for the following month.
Price Projection:
The price action has generated a projection signal for the underlying.
Monthly: Monthly: Price currently displays (if strength and attitude continue) a desire to move toward 30.82
If strength and attitude continue, it could take between 2 to 4 trade periods to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Monthly: Out of the cumulative indicators monitored, 9.09% are bullish, 90.91% are bearish, 0.00% are neutral
The CCI indicator trading strategy suggest the following:
Monthly: Very strongly bearish - short entries.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Monthly Bearish - Open directional trades
This a MONTHLY chart analysis of WTI Oil.
This one currently is a difficult thing to analyze. It has a directional desire and yet being a time based contract which is dependent on consumption of a resource - it also has a failure target of -1.06
Be cautious entering into trades. I would place stops within 1x ATR of entry. Current ATR is 10.87 - However, that is still a lot of risk - so adjust your stops based on YOUR risk factor.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Monthly: The relationship to the primary trend MA is bearish. The price in relationship to the other averages suggest short positions
Price Action:
Monthly: The average price range currently is 10.87 points/ticks/pips. Prices are currently 2.96x the normal trading range. Prices can encounter consolidation and begin transitioning counter trend.
Standard Deviation
Monthly: Standard deviation suggests a range from 7.17 to 30.92 for the following month.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Monthly: Trend strength suggests a trade range of 8.83 to 19.70 for the following month.
Price Projection:
The price action has generated a projection signal for the underlying.
Monthly: Monthly: Price currently displays (if strength and attitude continue) a desire to move toward 30.82
If strength and attitude continue, it could take between 2 to 4 trade periods to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Monthly: Out of the cumulative indicators monitored, 9.09% are bullish, 90.91% are bearish, 0.00% are neutral
The CCI indicator trading strategy suggest the following:
Monthly: Very strongly bearish - short entries.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Monthly Bearish - Open directional trades
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.