WTI CRUDE OIL - 15 min. - Technical analysis published on 05/07/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
11%
33%
56%
My opinion
Bullish above 78.56 USD
My targets
79.22 USD (+0.61%)
79.74 USD (+1.27%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WTI CRUDE OIL. As long as you are above the support located at 78.56 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 79.22 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 79.74 USD as an objective. Crossing it would then enable buyers to target 80.40 USD. If the support 78.56 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
2
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This analysis was given by KBPRASAD. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 78.74 USD. The price registered an increase of +0.33% on the session with the lowest point at 78.55 USD and the highest point at 79.02 USD. The deviation from the price is +0.24% for the low point and -0.35% for the high point.78.55
79.02
78.74
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 15 minutes
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 15 minutes
On the 18 technical indicators analysed, 2 are bullish, 10 are neutral and 6 are bearish. The Central Indicators scanner found this result concerning these indicators:
RSI indicator is back under 50
Type : Bearish
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 75.27 | 77.93 | 78.55 | 78.74 | 79.09 | 80.95 | 81.56 |
| Change (%) | -4.41% | -1.03% | -0.24% | - | +0.44% | +2.81% | +3.58% |
| Change | -3.47 | -0.81 | -0.19 | - | +0.35 | +2.21 | +2.82 |
| Level | Intermediate | Intermediate | 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 | 76.86 | 77.38 | 78.04 | 78.56 | 79.22 | 79.74 | 80.40 |
| Camarilla | 78.37 | 78.47 | 78.58 | 78.69 | 78.80 | 78.91 | 79.02 |
| Woodie | 76.92 | 77.42 | 78.10 | 78.60 | 79.28 | 79.78 | 80.46 |
| Fibonacci | 77.38 | 77.83 | 78.11 | 78.56 | 79.01 | 79.29 | 79.74 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.83 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 2.93 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 78.76 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.94 | |
| Elder Ray (13): | 0.02 | |
| Super Trend (3,10): | 78.96 | |
| Zig ZAG (10): | 78.79 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 41.13 | |
| TEMA (21): | 78.75 | |
| Williams %R (14): | -51.06 | |
| Chande Momentum Oscillator (20): | -0.23 | |
| Repulse (5,40,3): | 0.0000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.42 |
| MA7: | 79.72 | |
| MA20: | 82.03 | |
| MA50: | 80.80 | |
| MA100: | 76.36 | |
| MAexp7: | 78.73 | |
| MAexp20: | 78.74 | |
| MAexp50: | 78.71 | |
| MAexp100: | 78.69 | |
| Price / MA7: | -1.23% | |
| Price / MA20: | -4.01% | |
| Price / MA50: | -2.55% | |
| Price / MA100: | +3.12% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | +0.04% | |
| Price / MAexp100: | +0.06% |
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
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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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