WTI CRUDE OIL - 15 min. - Technical analysis published on 05/08/2024 (GMT)
- 60
- 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 77.77 USD. The price registered a decrease of -0.78% on the session and was traded between 76.89 USD and 78.40 USD over the period. The price is currently at +1.14% from its lowest and -0.80% from its highest.76.89
78.40
77.77
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
Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is bearish. 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. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 15 minutes
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
RSI indicator: bearish divergence
Type : Bearish
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
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 66.00 | 68.52 | 75.27 | 77.77 | 77.94 | 78.55 | 80.97 |
| Change (%) | -15.13% | -11.89% | -3.21% | - | +0.22% | +1.00% | +4.11% |
| Change | -11.77 | -9.25 | -2.50 | - | +0.17 | +0.78 | +3.20 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
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: | 81.63 | |
| MA50: | 80.80 | |
| MA100: | 76.44 | |
| MAexp7: | 77.54 | |
| MAexp20: | 77.49 | |
| MAexp50: | 77.70 | |
| MAexp100: | 77.94 | |
| Price / MA7: | -1.48% | |
| Price / MA20: | -4.73% | |
| Price / MA50: | -3.75% | |
| Price / MA100: | +1.74% | |
| Price / MAexp7: | +0.30% | |
| Price / MAexp20: | +0.36% | |
| Price / MAexp50: | +0.09% | |
| Price / MAexp100: | -0.22% |
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
-
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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