Weekly Data Summary Suggests:
Current Weekly Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest Short positions.
Current chart score suggests that Bearish Sentiment is present.
The anticipated upcoming trade range is between 17.05 - 21.80
Price Consolidation has formed between: 20.08 - 33.29
If WTI is capable of maintaining the current strength as of today, the projection generated from the weekly chart is a target price of 5.75
Out of the combined (weekly & daily) indicators monitored, 100.00% are bearish , 0.00% are bullish and 0.00% are neutral
The prices have moved 5.46 times the normal trade range from Trend Moving Average, a stall/change in direction may occur to return to the average.
The RSI that monitors bullish strength has a current weekly reading of: Bearish
The RSI that monitors bearish strength has a current weekly reading of: Bearish
The strength demonstrated over the last 5 weeks is currently: Bearish
Daily Data Summary Suggests:
Current Daily Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest closing shorts and protecting profit.
Current chart score suggests that Bearish Sentiment is present.
The anticipated upcoming trade range is between 17.62 - 21.80
Price Consolidation has formed between: 20.08 - 28.46
If WTI is capable of maintaining the current strength as of today, the projection generated from the daily chart is a target price of 19.50
The prices have moved 2.35 times the normal trade range from Trend Moving Average, a stall/change in direction may occur to return to the average.
The RSI that monitors bullish strength has a current daily reading of: Bearish
The RSI that monitors bearish strength has a current daily reading of: Bearish
The strength demonstrated over the last 5 days is currently: Bearish
Comments:
Wish that I was coming into the week with good news.
Even with the enveloped bar last week pointing as if it were bullish , it feels like the daily has lost all forward momentum from the excitement of the stimulus package.
This is a pandemic. The world is going to stop spinning for 6 - 10 weeks before we can restart the engines of the economies. With America being last in the list starting back up.
As the numbers of infections and deaths are reported, the market will take another hit.
The price projection with the excitement calculated into it shows it wants to rally to around 24.96.
However, the bear calculations went below $0 and have kicked in the absolute value algo. The weekly has a price projection of 5.75
The bottom appears to be crumbling from the support level of $20 as Friday triggered a price target of 19.50
I honestly am looking for some "good news" that would prop the market up. I haven't found it yet. Especially in light of the hearing NY/NJ and CONN might have a mandatory Federal lock down.
Stay healthy, avoid people and wash your hands!
-PriceProphet.
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
Current Weekly Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest Short positions.
Current chart score suggests that Bearish Sentiment is present.
The anticipated upcoming trade range is between 17.05 - 21.80
Price Consolidation has formed between: 20.08 - 33.29
If WTI is capable of maintaining the current strength as of today, the projection generated from the weekly chart is a target price of 5.75
Out of the combined (weekly & daily) indicators monitored, 100.00% are bearish , 0.00% are bullish and 0.00% are neutral
The prices have moved 5.46 times the normal trade range from Trend Moving Average, a stall/change in direction may occur to return to the average.
The RSI that monitors bullish strength has a current weekly reading of: Bearish
The RSI that monitors bearish strength has a current weekly reading of: Bearish
The strength demonstrated over the last 5 weeks is currently: Bearish
Daily Data Summary Suggests:
Current Daily Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest closing shorts and protecting profit.
Current chart score suggests that Bearish Sentiment is present.
The anticipated upcoming trade range is between 17.62 - 21.80
Price Consolidation has formed between: 20.08 - 28.46
If WTI is capable of maintaining the current strength as of today, the projection generated from the daily chart is a target price of 19.50
The prices have moved 2.35 times the normal trade range from Trend Moving Average, a stall/change in direction may occur to return to the average.
The RSI that monitors bullish strength has a current daily reading of: Bearish
The RSI that monitors bearish strength has a current daily reading of: Bearish
The strength demonstrated over the last 5 days is currently: Bearish
Comments:
Wish that I was coming into the week with good news.
Even with the enveloped bar last week pointing as if it were bullish , it feels like the daily has lost all forward momentum from the excitement of the stimulus package.
This is a pandemic. The world is going to stop spinning for 6 - 10 weeks before we can restart the engines of the economies. With America being last in the list starting back up.
As the numbers of infections and deaths are reported, the market will take another hit.
The price projection with the excitement calculated into it shows it wants to rally to around 24.96.
However, the bear calculations went below $0 and have kicked in the absolute value algo. The weekly has a price projection of 5.75
The bottom appears to be crumbling from the support level of $20 as Friday triggered a price target of 19.50
I honestly am looking for some "good news" that would prop the market up. I haven't found it yet. Especially in light of the hearing NY/NJ and CONN might have a mandatory Federal lock down.
Stay healthy, avoid people and wash your hands!
-PriceProphet.
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **