WTI CRUDE OIL - 15 min. - Technical analysis published on 05/08/2024 (GMT)
- 50
- 0
- Timeframe : 15 min.
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bearish
Technical indicators
44%
11%
44%
My opinion
Neutral between 77.56 USD and 78.37 USD
My targets
-
My analysis
The current short-term bullish thrust is in contrast to the bearish trend. WTI CRUDE OIL is apparently trying to reverse the trend. The return to a neutral and then bullish trend should not be long in coming if the current rebound continues. What is currently happening on WTI CRUDE OIL essentials for the price to rebound like this? In such a situation, it would be possible to stay away from WTI CRUDE OIL or not try to counterbalance this current rebound in the short term. If there is a purchase, the buyers could use the resistance located at 78.37 USD as an objective. Buyers would then use the next resistance located at 79.18 USD as an objective. Crossing it would then enable buyers to target 79.99 USD. Attention should be paid to the price reaction at the start of the resistance as trend traders may consider resuming sales if the basic trend has not been able to ease or if the short term has itself become excessive.
Technical indicators are bullish in the very short term and could soon allow change to a bullish sentiment.
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Additional analysis
Quotes
WTI CRUDE OIL rating 77.76 USD. On the day, this instrument lost -0.79% and was traded between 76.89 USD and 78.40 USD over the period. The price is currently at +1.13% from its lowest and -0.82% from its highest.76.89
78.40
77.76
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a bearish trend. 64.29% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that the overall trend could quickly run out of steam. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 15 minutes
In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 66.00 | 68.52 | 75.27 | 77.76 | 77.94 | 78.55 | 80.97 |
Change (%) | -15.12% | -11.88% | -3.20% | - | +0.23% | +1.02% | +4.13% |
Change | -11.76 | -9.24 | -2.49 | - | +0.18 | +0.79 | +3.21 |
Level | Intermediate | Major | Intermediate | - | Intermediate | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 75.94 | 76.75 | 77.56 | 78.37 | 79.18 | 79.99 | 80.80 |
Camarilla | 77.94 | 78.08 | 78.23 | 78.38 | 78.53 | 78.68 | 78.83 |
Woodie | 75.95 | 76.75 | 77.57 | 78.37 | 79.19 | 79.99 | 80.81 |
Fibonacci | 76.75 | 77.37 | 77.75 | 78.37 | 78.99 | 79.37 | 79.99 |
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): | 48.44 | |
MACD (12,26,9): | -0.0700 | |
Directional Movement: | -2.78 | |
AROON (14): | 42.86 | |
DEMA (21): | 77.39 | |
Parabolic SAR (0,02-0,02-0,2): | 77.70 | |
Elder Ray (13): | 0.02 | |
Super Trend (3,10): | 77.15 | |
Zig ZAG (10): | 77.61 | |
VORTEX (21): | 0.9900 | |
Stochastique (14,3,5): | 66.67 | |
TEMA (21): | 77.46 | |
Williams %R (14): | -17.86 | |
Chande Momentum Oscillator (20): | 0.13 | |
Repulse (5,40,3): | 0.3400 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.0200 | |
Courbe Coppock: | 0.66 |
MA7: | 78.94 | |
MA20: | 81.64 | |
MA50: | 80.80 | |
MA100: | 76.44 | |
MAexp7: | 77.54 | |
MAexp20: | 77.49 | |
MAexp50: | 77.70 | |
MAexp100: | 77.94 | |
Price / MA7: | -1.49% | |
Price / MA20: | -4.75% | |
Price / MA50: | -3.76% | |
Price / MA100: | +1.73% | |
Price / MAexp7: | +0.28% | |
Price / MAexp20: | +0.35% | |
Price / MAexp50: | +0.08% | |
Price / MAexp100: | -0.23% |
Quotes :
-
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
- Technical Analysis: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
- Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
- Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
- 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.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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