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 - 1H - Technical analysis published on 05/20/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 79.35 USD

My targets

81.08 USD (+1.74%)

83.38 USD (+4.63%)

My analysis

The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 79.35 USD, you could try to benefit from the boom. The first bullish objective is located at 81.08 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 83.38 USD as an objective. Crossing it would then enable buyers to target 85.37 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.8

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 Barts_XV. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL price is 79.69 USD. The price registered an increase of +0.14% on the session and was traded between 79.27 USD and 79.83 USD over the period. The price is currently at +0.53% from its lowest and -0.18% from its highest.

79.27

79.83

79.69

So that you have an overall view of the price change, here is a table showing the variations over several periods:

Technical

A technical analysis in 1H of this WTI CRUDE OIL chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

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.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	78.07	78.68	79.35	79.69	81.08	83.38	85.37
Change (%)	-2.03%	-1.27%	-0.43%	-	+1.74%	+4.63%	+7.13%
Change	-1.62	-1.01	-0.34	-	+1.39	+3.69	+5.68
Level	Intermediate	Intermediate	Intermediate	-	Minor	Minor	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	77.71	78.11	78.85	79.25	79.99	80.39	81.13
Camarilla	79.27	79.37	79.48	79.58	79.69	79.79	79.89
Woodie	77.87	78.20	79.01	79.34	80.15	80.48	81.29
Fibonacci	78.11	78.55	78.82	79.25	79.69	79.96	80.39

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	73.87	75.05	77.31	78.49	80.75	81.93	84.19
Camarilla	78.63	78.95	79.27	79.58	79.90	80.21	80.53
Woodie	74.42	75.32	77.86	78.76	81.30	82.20	84.74
Fibonacci	75.05	76.36	77.17	78.49	79.80	80.61	81.93

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	68.20	73.27	75.90	80.97	83.60	88.67	91.30
Camarilla	76.40	77.11	77.81	78.52	79.23	79.93	80.64
Woodie	66.97	72.66	74.67	80.36	82.37	88.06	90.07
Fibonacci	73.27	76.22	78.03	80.97	83.92	85.73	88.67

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):	62.11
MACD (12,26,9):	0.2300
Directional Movement:	12.54
AROON (14):	85.71
DEMA (21):	79.66
Parabolic SAR (0,02-0,02-0,2):	79.34
Elder Ray (13):	0.20
Super Trend (3,10):	78.89
Zig ZAG (10):	79.67
VORTEX (21):	1.1100
Stochastique (14,3,5):	85.37
TEMA (21):	79.72
Williams %R (14):	-11.67
Chande Momentum Oscillator (20):	0.64
Repulse (5,40,3):	0.1600
ROCnROLL:	1
TRIX (15,9):	0.0400
Courbe Coppock:	1.57

MA7:	78.59
MA20:	79.66
MA50:	80.68
MA100:	76.63
MAexp7:	79.59
MAexp20:	79.36
MAexp50:	78.99
MAexp100:	78.71
Price / MA7:	+1.40%
Price / MA20:	+0.04%
Price / MA50:	-1.23%
Price / MA100:	+3.99%
Price / MAexp7:	+0.13%
Price / MAexp20:	+0.42%
Price / MAexp50:	+0.89%
Price / MAexp100:	+1.25%

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:

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

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