WTI will test major support around $42
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Intermediate downtrend for West Texas Intermediate
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Tag Archives: WTI Crude
Western Canadian Select (WCS) trading at $22.43 USD/bbl
WCS was trading at a discount of $28.50 USD/bbl compared to WTI on November 30, 2018
https://www.oilsandsmagazine.com/energy-statistics/oil-and-gas-prices
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“Technical Analysis is about identifying trends”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca
West Texas Intermediate trading above $70
Reference my last chart analysis for WTI.
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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca
West Texas Intermediate at major resistance of $66.00
Major trend is up, intermediate trend is up and near-term trend is up.
West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing. This grade is described as light because of its relatively low density, and sweet because of its low sulfur content. It is the underlying commodity of New York Mercantile Exchange’s oil futures contracts.
https://en.wikipedia.org/wiki/West_Texas_Intermediate
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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca
Major uptrend for WTI with breakouts above two resistance levels of $55 and $60
Four -Year Chart for West Texas Intermediate
Reference my last chart for West Texas Intermediate when crude was about to test resistance at $60. The reversal of roles from resistance to support or support to resistance is an important concept in technical analysis.
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“What is the major tend? What is the intermediate trend? What is the near-term trend?”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca
Western Canadian Select (WCS) price differential on December 15, 2017 with WTI is ($57.30-32.75) $24.55 USD/bbl and the near-term trend is a projected increase in the differential
There are two major negative factors affecting the price of WCS and thus increasing the the price differential. The first is new production coming on stream and the second is the pipeline constraint to export WCS to the U.S. market.
Click here for a live and larger version of the above chart.
There are over 300 benchmark streams of crude oil produced around the world. The most commonly referenced US benchmark is West Texas Intermediate (WTI), priced out of Cushing, Oklahoma. WTI is lighter and sweeter than the international benchmark, North Sea Brent, which is priced out of Sullom Voe, Scotland.
The two most popular Canadian benchmarks are Canadian Light and Western Canadian Select. WCS is a heavy sour blend while Canadian Light is a light sweet crude, similar in quality to WTI.
Click hear for an explanation of WCS.
This link provides an historical chart of the WCS price differential with WTI.
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“Technical Analysis is about identifying and following the appropriate trend.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
Tentative breakout for WTI crude above major resistance at $55
West Texas Intermediate 3-Year Chart
Reference my last chart analysis for WTI.
______________________________
“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
West texas Intermediate plunges 4.81% through $47 support
There is some support around $45 but the near-term downtrend will test major support around $43
West Texas Intermediate 8-Month Daily Chart
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