Wisdomtree Wti Crude Oil 1x Daily Short ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Wisdomtree Wti Crude Oil 1x Daily Short ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Wisdomtree Wti Crude Oil 1x Daily Short ETF price fell by -1.11% on the last day (Friday, 28th Jun 2024) from $16.93 to $16.74. During the last trading day the ETF fluctuated 1.53% from a day low at $16.49 to a day high of $16.74. The price has fallen in 7 of the last 10 days and is down by -3.58% for this period. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 thousand shares were bought and sold for approximately $252.70 thousand.
The ETF has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $16.75. A reaction back to this level may hold a second chance to get out before further falls.
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SOIL.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.375%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wisdomtree Wti Crude Oil 1x Daily Short ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.79 and $17.36. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Wisdomtree Wti Crude Oil 1x Daily Short gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Wisdomtree Wti Crude Oil 1x Daily Short ETF
Wisdomtree Wti Crude Oil 1x Daily Short finds support from accumulated volume at $16.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.253 between high and low, or 1.53%. For the last week, the ETF has had daily average volatility of 0.92%.
Wisdomtree Wti Crude Oil 1x Daily Short is oversold on RSI14 (22). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $15.82 (-5.53%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 22 which reduces the risk some. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (SOIL.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Wisdomtree Wti Crude Oil 1x Daily Short to open at $16.66, and during the day (based on 14 day Average True Range), to move between $16.51 and $16.97, which gives a possible trading interval of +/-$0.229 (+/-1.37%) up or down from last closing price. If Wisdomtree Wti Crude Oil 1x Daily Short takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.73 (0.07%) than the resistance at $16.78 (0.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wisdomtree Wti Crude Oil 1x Daily Short ETF A Buy?
Wisdomtree Wti Crude Oil 1x Daily Short holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Wisdomtree Wti Crude Oil 1x Daily Short of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $16.66 ( 0.503%) | $16.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOIL.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.91 | 1.01% |
| R2 | 16.81 | 0.429% |
| R1 | 16.75 | 0.0734% |
| Price | 16.74 | |
| S1 | 16.56 | -1.08% |
| S2 | 16.50 | -1.43% |
| S3 | 16.41 | -2.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.38 | 3.81% |
| R2 | 17.25 | 3.00% |
| R1 | 16.78 | 0.224% |
| Price | 16.74 | |
| S1 | 16.73 | -0.0747% |
| S2 | 16.72 | -0.134% |
| S3 | 16.68 | -0.373% |
FAQ
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