WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	WBS
ISIN:

WTI CRUDE OIL - 15 min. - Technical analysis published on 05/08/2024 (GMT)

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Timeframe : 15 min.
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bullish

Technical indicators

83%

17%

My opinion

Bullish above 78.37 USD

My targets

79.18 USD (+0.70%)

79.99 USD (+1.73%)

My analysis

All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 78.37 USD. The buyers' bullish objective is set at 79.18 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 79.99 USD. If there is any crossing, the next objective would be the resistance located at 80.80 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

6.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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 78.63 USD. On the day, this instrument gained +0.32% and was traded between 76.89 USD and 78.74 USD over the period. The price is currently at +2.26% from its lowest and -0.14% from its highest.

76.89

78.74

78.63

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

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. 71.43% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 50

Type : Bullish

Timeframe : 15 minutes

Moving Average bullish crossovers : MA20 & MA50

Type : Bullish

Timeframe : 15 minutes

In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 15 minutes

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 15 minutes

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 15 minutes

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 15 minutes

No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	75.27	77.94	78.55	78.63	80.97	81.56	83.32
Change (%)	-4.27%	-0.88%	-0.10%	-	+2.98%	+3.73%	+5.96%
Change	-3.36	-0.69	-0.08	-	+2.34	+2.93	+4.69
Level	Intermediate	Intermediate	Major	-	Minor	Intermediate	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 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):	69.60
MACD (12,26,9):	0.1700
Directional Movement:	22.22
AROON (14):	71.43
DEMA (21):	77.98
Parabolic SAR (0,02-0,02-0,2):	77.53
Elder Ray (13):	0.53
Super Trend (3,10):	77.61
Zig ZAG (10):	78.56
VORTEX (21):	1.2700
Stochastique (14,3,5):	84.45
TEMA (21):	78.23
Williams %R (14):	-11.72
Chande Momentum Oscillator (20):	1.19
Repulse (5,40,3):	0.4700
ROCnROLL:	1
TRIX (15,9):	0.0200
Courbe Coppock:	1.85

MA7:	79.08
MA20:	81.67
MA50:	80.81
MA100:	76.45
MAexp7:	78.28
MAexp20:	77.80
MAexp50:	77.79
MAexp100:	77.95
Price / MA7:	-0.57%
Price / MA20:	-3.72%
Price / MA50:	-2.70%
Price / MA100:	+2.85%
Price / MAexp7:	+0.45%
Price / MAexp20:	+1.07%
Price / MAexp50:	+1.08%
Price / MAexp100:	+0.87%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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