Oil Prices Plummeted -7% on Friday To Touch The Year's Nadir
On Friday, oil prices dropped to their lowest level in almost a year. West Texas Intermediate crude briefly plunged about -7% to $50.60 a barrel, its weakest price since Oct. 12, 2017. International benchmark Brent crude price fell -4.9% to around $59.52 a barrel at 9:44 a.m. ET.
Oil prices are down around -20% so far this month. Reports of a possible production cut by OPEC in December is apparently failing to boost prices of crude futures. Traders/investors are probably expecting the pace of oil demand growth to fall short of supply. The International Energy Agency (IEA) recently projected that non-OPEC output alone would climb to 2.3 million barrels per day (bpd) this year, while global supply has already been climbing so far in 2018. The IEA expects demand in 2019 to grow at a rate of 1.3 million bpd, revising down its previous forecast of 1.5 million bpd. Meanwhile, U.S. President Donald Trump has been urging OPEC not to cut production next month as he is apparently in favor of lower oil prices.
WTID's RSI Oscillator recovers from oversold territory
The RSI Oscillator for WTID moved out of oversold territory on June 23, 2025. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 13 similar instances when the indicator left oversold territory. In of the 13 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on July 18, 2025. You may want to consider a long position or call options on WTID as a result. In of 38 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for WTID just turned positive on July 15, 2025. Looking at past instances where WTID's MACD turned positive, the stock continued to rise in of 22 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where WTID advanced for three days, in of 133 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 27 cases where WTID's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The 50-day moving average for WTID moved below the 200-day moving average on June 18, 2025. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WTID declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for WTID entered a downward trend on July 02, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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