WTI CRUDE OIL - 1H - Technical analysis published on 04/21/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 83.02 USD
My targets
81.41 USD (-0.66%)
80.91 USD (-1.27%)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 83.02 USD. The next bearish objective for sellers is set at 81.41 USD. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 80.91 USD. If there is any crossing, the next objective would be the support located at 80.42 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.6
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This analysis was given by Ralhosni. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 81.95 USD. On the day, this instrument lost -0.33% and was traded between 81.78 USD and 82.04 USD over the period. The price is currently at +0.21% from its lowest and -0.11% from its highest.81.78
82.04
81.95
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this WTI CRUDE OIL chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. The overall trend seems to be showing some signs of weakness, as do the tentative bearish signals from short-term moving averages. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 6 are neutral and 5 are bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 80.42 | 80.91 | 81.41 | 81.95 | 83.02 | 83.97 | 85.04 |
| Change (%) | -1.87% | -1.27% | -0.66% | - | +1.31% | +2.46% | +3.77% |
| Change | -1.53 | -1.04 | -0.54 | - | +1.07 | +2.02 | +3.09 |
| Level | Major | Minor | Intermediate | - | Intermediate | 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 | 75.59 | 78.13 | 80.06 | 82.60 | 84.53 | 87.07 | 89.00 |
| Camarilla | 80.77 | 81.18 | 81.59 | 82.00 | 82.41 | 82.82 | 83.23 |
| Woodie | 75.30 | 77.98 | 79.77 | 82.45 | 84.24 | 86.92 | 88.71 |
| Fibonacci | 78.13 | 79.83 | 80.89 | 82.60 | 84.30 | 85.36 | 87.07 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 75.19 | 77.81 | 79.90 | 82.52 | 84.61 | 87.23 | 89.32 |
| Camarilla | 80.71 | 81.14 | 81.57 | 82.00 | 82.43 | 82.86 | 83.30 |
| Woodie | 74.94 | 77.68 | 79.65 | 82.39 | 84.36 | 87.10 | 89.07 |
| Fibonacci | 77.81 | 79.61 | 80.72 | 82.52 | 84.32 | 85.43 | 87.23 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.03 | 72.05 | 77.31 | 80.33 | 85.59 | 88.61 | 93.87 |
| Camarilla | 80.29 | 81.05 | 81.81 | 82.57 | 83.33 | 84.09 | 84.85 |
| Woodie | 70.15 | 72.61 | 78.43 | 80.89 | 86.71 | 89.17 | 94.99 |
| Fibonacci | 72.05 | 75.21 | 77.17 | 80.33 | 83.49 | 85.45 | 88.61 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 48.19 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | -2.53 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 82.05 | |
| Parabolic SAR (0,02-0,02-0,2): | 80.81 | |
| Elder Ray (13): | -0.15 | |
| Super Trend (3,10): | 82.98 | |
| Zig ZAG (10): | 81.94 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 64.40 | |
| TEMA (21): | 82.09 | |
| Williams %R (14): | -35.71 | |
| Chande Momentum Oscillator (20): | 0.39 | |
| Repulse (5,40,3): | 0.1800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 1.35 |
| MA7: | 82.87 | |
| MA20: | 83.20 | |
| MA50: | 79.58 | |
| MA100: | 75.02 | |
| MAexp7: | 82.07 | |
| MAexp20: | 82.07 | |
| MAexp50: | 82.23 | |
| MAexp100: | 82.74 | |
| Price / MA7: | -1.11% | |
| Price / MA20: | -1.50% | |
| Price / MA50: | +2.98% | |
| Price / MA100: | +9.24% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | -0.15% | |
| Price / MAexp50: | -0.34% | |
| Price / MAexp100: | -0.95% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The last news published on WTI CRUDE OIL at the time of the generation of this analysis was 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
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Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
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Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
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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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