WTI CRUDE OIL - 15 min. - Technical analysis published on 04/26/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 83.13 USD
My targets
84.27 USD (+0.42%)
84.97 USD (+1.25%)
My analysis
The basic trend is bullish on WTI CRUDE OIL and in the short term, the price is attempting to correct. For the time being, this is only a simple technical correction and the basic trend is not threatened. For the correction to be confirmed, it would have to at least return to below the support 83.13 USD. Sellers would then use the next support located at 82.43 USD as an objective. Crossing it would then enable sellers to target 81.29 USD. If there is a return to above the resistance located at 84.27 USD, this would be a sign of a reversal in the basic bullish trend. The next bullish objectives will be 84.97 USD and 86.11 USD by extension.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
0.7
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 83.92 USD. The price has increased by +0.42% since the last closing with the lowest point at 83.58 USD and the highest point at 84.46 USD. The deviation from the price is +0.41% for the low point and -0.64% for the high point.83.58
84.46
83.92
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows an overall bullish trend. 67.86% of the signals given by moving averages are bullish. Caution: the slightly bearish signals currently being given by short-term moving averages indicate that this bullish trend may be running out of steam. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 15 minutes
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 81.99 | 82.63 | 83.88 | 83.92 | 84.59 | 85.13 | 85.85 |
| Change (%) | -2.30% | -1.54% | -0.05% | - | +0.80% | +1.44% | +2.30% |
| Change | -1.93 | -1.29 | -0.04 | - | +0.67 | +1.21 | +1.93 |
| Level | Intermediate | Minor | Major | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 80.59 | 81.29 | 82.43 | 83.13 | 84.27 | 84.97 | 86.11 |
| Camarilla | 83.06 | 83.23 | 83.40 | 83.57 | 83.74 | 83.91 | 84.08 |
| Woodie | 80.81 | 81.40 | 82.65 | 83.24 | 84.49 | 85.08 | 86.33 |
| Fibonacci | 81.29 | 81.99 | 82.43 | 83.13 | 83.83 | 84.27 | 84.97 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 44.46 | |
| MACD (12,26,9): | 0.0700 | |
| Directional Movement: | 0.83 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 84.20 | |
| Parabolic SAR (0,02-0,02-0,2): | 84.43 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 83.76 | |
| Zig ZAG (10): | 83.95 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 21.03 | |
| TEMA (21): | 84.15 | |
| Williams %R (14): | -94.74 | |
| Chande Momentum Oscillator (20): | -0.16 | |
| Repulse (5,40,3): | -0.2200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.45 |
| MA7: | 82.73 | |
| MA20: | 83.71 | |
| MA50: | 80.28 | |
| MA100: | 75.50 | |
| MAexp7: | 84.09 | |
| MAexp20: | 84.10 | |
| MAexp50: | 83.95 | |
| MAexp100: | 83.72 | |
| Price / MA7: | +1.44% | |
| Price / MA20: | +0.25% | |
| Price / MA50: | +4.53% | |
| Price / MA100: | +11.15% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.21% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | +0.24% |
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:
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Technical Analysis: 04/04/2024 - WTI futures surge to a 5-month high
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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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