WTI CRUDE OIL - 15 min. - Technical analysis published on 05/08/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
11%
22%
My opinion
Bearish under 78.37 USD
My targets
76.75 USD (-1.07%)
75.94 USD (-2.11%)
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 under the resistance located at 78.37 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 76.75 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 75.94 USD as an objective. Crossing it would then enable sellers to target 75.27 USD. If the resistance 78.37 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 77.58 USD. On the day, this instrument lost -1.02% with the lowest point at 76.89 USD and the highest point at 78.40 USD. The deviation from the price is +0.90% for the low point and -1.05% for the high point.76.89
78.40
77.58
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. 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
An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 15 minutes
RSI indicator is back under 50
Type : Bearish
Timeframe : 15 minutes
Momentum indicator is back under 0
Type : Bearish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 77.58 | 77.94 | 78.55 | 80.97 |
| Change (%) | -14.93% | -11.68% | -2.98% | - | +0.46% | +1.25% | +4.37% |
| Change | -11.58 | -9.06 | -2.31 | - | +0.36 | +0.97 | +3.39 |
| 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): | 58.20 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | 8.88 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 77.49 | |
| Parabolic SAR (0,02-0,02-0,2): | 77.29 | |
| Elder Ray (13): | 0.20 | |
| Super Trend (3,10): | 77.15 | |
| Zig ZAG (10): | 77.79 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 79.51 | |
| TEMA (21): | 77.61 | |
| Williams %R (14): | -37.10 | |
| Chande Momentum Oscillator (20): | 0.01 | |
| Repulse (5,40,3): | -0.0600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.52 |
| MA7: | 78.91 | |
| MA20: | 81.64 | |
| MA50: | 80.80 | |
| MA100: | 76.44 | |
| MAexp7: | 77.57 | |
| MAexp20: | 77.55 | |
| MAexp50: | 77.70 | |
| MAexp100: | 77.94 | |
| Price / MA7: | -1.69% | |
| Price / MA20: | -4.97% | |
| Price / MA50: | -3.99% | |
| Price / MA100: | +1.49% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.15% | |
| Price / MAexp100: | -0.46% |
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:
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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.
About author
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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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