WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	WBS
ISIN:

WTI CRUDE OIL - 1H - Technical analysis published on 04/23/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

67%

28%

My opinion

Bullish above 82.30 USD

My targets

83.71 USD (+0.87%)

85.04 USD (+2.47%)

My analysis

In the short term, there could be an acceleration of the basic bullish trend on WTI CRUDE OIL. This is a positive signal for buyers. As long as the price remains above 82.30 USD, a purchase could be considered. The first bullish objective is located at 83.71 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 85.04 USD as an objective. Crossing it would then enable buyers to target 85.85 USD. In the event of a return below 82.30 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

5.9

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Ralhosni. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 82.99 USD. The price registered an increase of +1.33% on the session with the lowest point at 80.88 USD and the highest point at 83.04 USD. The deviation from the price is +2.61% for the low point and -0.06% for the high point.

80.88

83.04

82.99

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this WTI CRUDE OIL chart shows a bullish trend. 71.43% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Aroon indicator bullish trend

Type : Bullish

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	80.69	81.41	82.30	82.99	83.02	83.71	85.04
Change (%)	-2.77%	-1.90%	-0.83%	-	+0.04%	+0.87%	+2.47%
Change	-2.30	-1.58	-0.69	-	+0.03	+0.72	+2.05
Level	Intermediate	Minor	Intermediate	-	Minor	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	79.38	80.04	80.97	81.63	82.56	83.22	84.15
Camarilla	81.46	81.61	81.75	81.90	82.05	82.19	82.34
Woodie	79.52	80.11	81.11	81.70	82.70	83.29	84.29
Fibonacci	80.04	80.65	81.02	81.63	82.24	82.61	83.22

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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	61.07
MACD (12,26,9):	0.1300
Directional Movement:	13.80
AROON (14):	28.57
DEMA (21):	82.26
Parabolic SAR (0,02-0,02-0,2):	80.92
Elder Ray (13):	0.74
Super Trend (3,10):	81.52
Zig ZAG (10):	82.91
VORTEX (21):	1.1500
Stochastique (14,3,5):	86.40
TEMA (21):	82.37
Williams %R (14):	-4.63
Chande Momentum Oscillator (20):	0.59
Repulse (5,40,3):	1.2000
ROCnROLL:	1
TRIX (15,9):	0.0100
Courbe Coppock:	0.13

MA7:	82.64
MA20:	83.31
MA50:	79.75
MA100:	75.11
MAexp7:	82.35
MAexp20:	82.11
MAexp50:	82.03
MAexp100:	82.28
Price / MA7:	+0.42%
Price / MA20:	-0.38%
Price / MA50:	+4.06%
Price / MA100:	+10.49%
Price / MAexp7:	+0.78%
Price / MAexp20:	+1.07%
Price / MAexp50:	+1.17%
Price / MAexp100:	+0.86%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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