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 05/05/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

33%

39%

28%

My opinion

Bearish under 79.63 USD

My targets

76.08 USD (-3.12%)

75.27 USD (-4.15%)

My analysis

The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 79.63 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 76.08 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 75.27 USD as an objective. Crossing it would then enable sellers to target 68.52 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.

Force

6.3

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

The WTI CRUDE OIL rating is 78.53 USD. On the day, this instrument gained +0.54% and was between 78.02 USD and 78.59 USD. This implies that the price is at +0.65% from its lowest and at -0.08% from its highest.

78.02

78.59

78.53

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:

The Central Records scanner for higher/lower results shows an item:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

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	66.00	68.52	75.27	78.53	78.55	79.63	80.95
Change (%)	-15.96%	-12.75%	-4.15%	-	+0.03%	+1.40%	+3.08%
Change	-12.53	-10.01	-3.26	-	+0.02	+1.10	+2.42
Level	Intermediate	Major	Intermediate	-	Major	Intermediate	Minor

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	75.83	76.90	77.50	78.57	79.17	80.24	80.84
Camarilla	77.65	77.80	77.96	78.11	78.26	78.42	78.57
Woodie	75.61	76.78	77.28	78.45	78.95	80.12	80.62
Fibonacci	76.90	77.54	77.93	78.57	79.21	79.60	80.24

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	70.13	74.04	76.08	79.99	82.03	85.94	87.98
Camarilla	76.47	77.02	77.57	78.11	78.66	79.20	79.75
Woodie	69.19	73.57	75.14	79.52	81.09	85.47	87.04
Fibonacci	74.04	76.32	77.72	79.99	82.27	83.67	85.94

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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	44.04
MACD (12,26,9):	-0.2700
Directional Movement:	-3.07
AROON (14):	-57.14
DEMA (21):	78.29
Parabolic SAR (0,02-0,02-0,2):	79.06
Elder Ray (13):	-0.03
Super Trend (3,10):	79.08
Zig ZAG (10):	78.51
VORTEX (21):	0.9000
Stochastique (14,3,5):	22.36
TEMA (21):	78.25
Williams %R (14):	-67.07
Chande Momentum Oscillator (20):	-0.65
Repulse (5,40,3):	0.2400
ROCnROLL:	-1
TRIX (15,9):	-0.0400
Courbe Coppock:	2.18

MA7:	80.43
MA20:	82.29
MA50:	80.74
MA100:	76.26
MAexp7:	78.38
MAexp20:	78.64
MAexp50:	79.20
MAexp100:	80.07
Price / MA7:	-2.36%
Price / MA20:	-4.57%
Price / MA50:	-2.74%
Price / MA100:	+2.98%
Price / MAexp7:	+0.19%
Price / MAexp20:	-0.14%
Price / MAexp50:	-0.85%
Price / MAexp100:	-1.92%

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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