WTI CRUDE OIL - 15 min. - Technical analysis published on 05/06/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 78.57 USD
My targets
79.17 USD (+0.46%)
80.24 USD (+1.81%)
My analysis
WTI CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 78.57 USD. The next resistance located at 79.17 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 80.24 USD. After this resistance, buyers could then target 80.84 USD.
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
5.7
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Additional analysis
Quotes
WTI CRUDE OIL rating 78.81 USD. The price registered an increase of +0.90% on the session with the lowest point at 78.02 USD and the highest point at 79.07 USD. The deviation from the price is +1.01% for the low point and -0.33% for the high point.78.02
79.07
78.81
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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
Technical analysis of WTI CRUDE OIL in 15 min. shows an overall bullish trend. 75.00% 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 11 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 15 minutes
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 68.52 | 75.27 | 78.55 | 78.81 | 79.63 | 80.95 | 81.56 |
| Change (%) | -13.06% | -4.49% | -0.33% | - | +1.04% | +2.72% | +3.49% |
| Change | -10.29 | -3.54 | -0.26 | - | +0.82 | +2.14 | +2.75 |
| Level | Major | Intermediate | Major | - | 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 | 75.83 | 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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 59.30 | |
| MACD (12,26,9): | 0.1300 | |
| Directional Movement: | 16.18 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 78.91 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.82 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 78.62 | |
| Zig ZAG (10): | 78.88 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 77.31 | |
| TEMA (21): | 78.98 | |
| Williams %R (14): | -41.67 | |
| Chande Momentum Oscillator (20): | 0.13 | |
| Repulse (5,40,3): | -0.1200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.87 |
| MA7: | 80.47 | |
| MA20: | 82.30 | |
| MA50: | 80.74 | |
| MA100: | 76.26 | |
| MAexp7: | 78.86 | |
| MAexp20: | 78.74 | |
| MAexp50: | 78.60 | |
| MAexp100: | 78.64 | |
| Price / MA7: | -2.06% | |
| Price / MA20: | -4.24% | |
| Price / MA50: | -2.39% | |
| Price / MA100: | +3.34% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.27% | |
| Price / MAexp100: | +0.22% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
-
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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