WTI CRUDE OIL - 1H - Technical analysis published on 04/22/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
67%
6%
28%
My opinion
Bullish above 81.41 USD
My targets
83.02 USD (+1.11%)
83.97 USD (+2.27%)
My analysis
The strong short-term increase of WTI CRUDE OIL should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 81.41 USD, a purchase could be considered. The first bullish objective is located at 83.02 USD. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 83.97 USD. If there is any crossing, the next objective would be the resistance at 85.04 USD. Caution, if there is a return under 81.41 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
3
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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 82.11 USD. The price registered an increase of +0.26% on the session and was between 81.99 USD and 82.19 USD. This implies that the price is at +0.15% from its lowest and at -0.10% from its highest.81.99
82.19
82.11
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
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 neutral trend. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 80.42 | 80.91 | 81.41 | 82.11 | 83.02 | 83.97 | 85.04 |
| Change (%) | -2.06% | -1.46% | -0.85% | - | +1.11% | +2.27% | +3.57% |
| Change | -1.69 | -1.20 | -0.70 | - | +0.91 | +1.86 | +2.93 |
| Level | Major | Minor | Intermediate | - | Intermediate | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 79.54 | 80.12 | 81.13 | 81.71 | 82.72 | 83.30 | 84.31 |
| Camarilla | 81.70 | 81.85 | 81.99 | 82.14 | 82.29 | 82.43 | 82.58 |
| Woodie | 79.76 | 80.23 | 81.35 | 81.82 | 82.94 | 83.41 | 84.53 |
| Fibonacci | 80.12 | 80.73 | 81.10 | 81.71 | 82.32 | 82.69 | 83.30 |
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): | 54.93 | |
| MACD (12,26,9): | 0.0800 | |
| Directional Movement: | -2.50 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 81.90 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.07 | |
| Elder Ray (13): | 0.19 | |
| Super Trend (3,10): | 80.93 | |
| Zig ZAG (10): | 82.09 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 87.89 | |
| TEMA (21): | 82.05 | |
| Williams %R (14): | -13.42 | |
| Chande Momentum Oscillator (20): | 0.26 | |
| Repulse (5,40,3): | 0.1700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 1.66 |
| MA7: | 82.55 | |
| MA20: | 83.28 | |
| MA50: | 79.74 | |
| MA100: | 75.11 | |
| MAexp7: | 82.00 | |
| MAexp20: | 81.84 | |
| MAexp50: | 81.92 | |
| MAexp100: | 82.33 | |
| Price / MA7: | -0.53% | |
| Price / MA20: | -1.40% | |
| Price / MA50: | +2.97% | |
| Price / MA100: | +9.32% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | +0.33% | |
| Price / MAexp50: | +0.23% | |
| Price / MAexp100: | -0.27% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
Don't forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news 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
-
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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