WTI CRUDE OIL - 15 min. - Technical analysis published on 05/17/2024 (GMT)
- 102
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Slightly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 79.99 USD
My targets
79.09 USD (-0.29%)
78.34 USD (-1.24%)
My analysis
The basic trend is currently slightly bearish on WTI CRUDE OIL and the short term does not seem to show any sign of improvement. Sellers are struggling to get their hands on this instrument. However, as long as the price remains below 79.99 USD, sales could be favoured. The first bearish objective would be located at 79.09 USD. Sellers would then use the next support located at 78.34 USD as an objective. Crossing it would then enable sellers to target 77.44 USD. A return to above the resistance at 79.99 USD could jeopardize this fragile bearish trend. Indecision would then be total and in this case you could keep away.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
2.9
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 price is 79.32 USD. The price has increased by +0.11% since the last closing with the lowest point at 79.00 USD and the highest point at 79.65 USD. The deviation from the price is +0.41% for the low point and -0.41% for the high point.79.00
79.65
79.32
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a 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 slightly bearish. 50.00% of the signals given by moving averages are bearish. This bearish trend does not seem to be increasing given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 15 minutes
On the 18 technical indicators analysed, 4 are bullish, 5 are neutral and 9 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 15 minutes
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish harami
Type : Bearish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 78.20 | 78.55 | 79.16 | 79.32 | 79.49 | 79.83 | 81.56 |
| Change (%) | -1.41% | -0.97% | -0.20% | - | +0.21% | +0.64% | +2.82% |
| Change | -1.12 | -0.77 | -0.16 | - | +0.17 | +0.51 | +2.24 |
| Level | Intermediate | Intermediate | Intermediate | - | Minor | Intermediate | 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 | 76.69 | 77.44 | 78.34 | 79.09 | 79.99 | 80.74 | 81.64 |
| Camarilla | 78.78 | 78.93 | 79.08 | 79.23 | 79.38 | 79.53 | 79.68 |
| Woodie | 76.76 | 77.48 | 78.41 | 79.13 | 80.06 | 80.78 | 81.71 |
| Fibonacci | 77.44 | 78.07 | 78.46 | 79.09 | 79.72 | 80.11 | 80.74 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 73.71 | 75.30 | 76.78 | 78.37 | 79.85 | 81.44 | 82.92 |
| Camarilla | 77.42 | 77.70 | 77.98 | 78.26 | 78.54 | 78.82 | 79.10 |
| Woodie | 73.66 | 75.27 | 76.73 | 78.34 | 79.80 | 81.41 | 82.87 |
| Fibonacci | 75.30 | 76.47 | 77.20 | 78.37 | 79.54 | 80.27 | 81.44 |
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): | 39.99 | |
| MACD (12,26,9): | -0.0500 | |
| Directional Movement: | -21.26 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 79.29 | |
| Parabolic SAR (0,02-0,02-0,2): | 79.38 | |
| Elder Ray (13): | -0.12 | |
| Super Trend (3,10): | 79.50 | |
| Zig ZAG (10): | 79.23 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 42.05 | |
| TEMA (21): | 79.24 | |
| Williams %R (14): | -58.46 | |
| Chande Momentum Oscillator (20): | -0.31 | |
| Repulse (5,40,3): | 0.0600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.67 |
| MA7: | 78.82 | |
| MA20: | 80.19 | |
| MA50: | 81.06 | |
| MA100: | 76.99 | |
| MAexp7: | 79.26 | |
| MAexp20: | 79.33 | |
| MAexp50: | 79.33 | |
| MAexp100: | 79.22 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | -1.08% | |
| Price / MA50: | -2.15% | |
| Price / MA100: | +3.03% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | -0.01% | |
| Price / MAexp100: | +0.13% |
Quotes :
-
10 min delayed data
-
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
Online
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…
Add a comment
Comments
0 comments on the analysis WTI CRUDE OIL - 15 min.