WTI CRUDE OIL - 15 min. - Technical analysis published on 05/16/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 79.47 USD
My targets
78.08 USD (-0.35%)
77.25 USD (-1.42%)
My analysis
In the short term, we can see an acceleration in the bearish trend on WTI CRUDE OIL, which is a positive signal for sellers. As long as the price remains above 79.47 USD, a sale could be considered. The first bearish objective is located at 78.08 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 77.25 USD as an objective. Crossing it would then enable sellers to target 75.86 USD. If the price were to return above 79.47 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
6.6
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Additional analysis
Quotes
WTI CRUDE OIL rating 78.36 USD. The price registered a decrease of -0.34% on the session and was traded between 78.20 USD and 79.17 USD over the period. The price is currently at +0.20% from its lowest and -1.02% from its highest.78.20
79.17
78.36
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows an overall bearish trend. 78.57% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 12 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 20
Type : Neutral
Timeframe : 15 minutes
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 76.89 | 77.78 | 78.25 | 78.36 | 78.55 | 79.29 | 79.96 |
Change (%) | -1.88% | -0.74% | -0.14% | - | +0.24% | +1.19% | +2.04% |
Change | -1.47 | -0.58 | -0.11 | - | +0.19 | +0.93 | +1.60 |
Level | Intermediate | Intermediate | Minor | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 75.03 | 75.86 | 77.25 | 78.08 | 79.47 | 80.30 | 81.69 |
Camarilla | 78.02 | 78.22 | 78.43 | 78.63 | 78.83 | 79.04 | 79.24 |
Woodie | 75.30 | 76.00 | 77.52 | 78.22 | 79.74 | 80.44 | 81.96 |
Fibonacci | 75.86 | 76.71 | 77.24 | 78.08 | 78.93 | 79.46 | 80.30 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 73.71 | 75.30 | 76.78 | 78.37 | 79.85 | 81.44 | 82.92 |
Camarilla | 77.42 | 77.70 | 77.98 | 78.26 | 78.54 | 78.82 | 79.10 |
Woodie | 73.66 | 75.27 | 76.73 | 78.34 | 79.80 | 81.41 | 82.87 |
Fibonacci | 75.30 | 76.47 | 77.20 | 78.37 | 79.54 | 80.27 | 81.44 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 68.68 | 73.75 | 76.38 | 81.45 | 84.08 | 89.15 | 91.78 |
Camarilla | 76.88 | 77.59 | 78.29 | 79.00 | 79.71 | 80.41 | 81.12 |
Woodie | 67.45 | 73.14 | 75.15 | 80.84 | 82.85 | 88.54 | 90.55 |
Fibonacci | 73.75 | 76.70 | 78.51 | 81.45 | 84.40 | 86.21 | 89.15 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 20.43 | |
MACD (12,26,9): | -0.1500 | |
Directional Movement: | -20.01 | |
AROON (14): | -92.86 | |
DEMA (21): | 78.55 | |
Parabolic SAR (0,02-0,02-0,2): | 78.77 | |
Elder Ray (13): | -0.31 | |
Super Trend (3,10): | 78.79 | |
Zig ZAG (10): | 78.30 | |
VORTEX (21): | 0.7500 | |
Stochastique (14,3,5): | 3.60 | |
TEMA (21): | 78.31 | |
Williams %R (14): | -97.44 | |
Chande Momentum Oscillator (20): | -0.69 | |
Repulse (5,40,3): | -0.3500 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0200 | |
Courbe Coppock: | 1.38 |
MA7: | 78.65 | |
MA20: | 80.28 | |
MA50: | 81.00 | |
MA100: | 76.90 | |
MAexp7: | 78.45 | |
MAexp20: | 78.71 | |
MAexp50: | 78.79 | |
MAexp100: | 78.71 | |
Price / MA7: | -0.37% | |
Price / MA20: | -2.39% | |
Price / MA50: | -3.26% | |
Price / MA100: | +1.90% | |
Price / MAexp7: | -0.11% | |
Price / MAexp20: | -0.44% | |
Price / MAexp50: | -0.55% | |
Price / MAexp100: | -0.44% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
- Technical Analysis: 04/04/2024 - WTI futures surge to a 5-month high
- Technical Analysis: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
- Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
- Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
- Technical Analysis: 08/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
This member declared not having a position on this financial instrument or a related financial instrument.
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