Londinia Opportunities Analyses - 04/26/2024 (GMT) WTI CRUDE OIL - 1H

- USD (-)

- 10 min delayed data - NYMEX Futures

Type:	Commodities
Ticker:	WBS
ISIN:

Londinia

Oops, I was wrong about that analysis. My threshold for invalidation has been broken.

FX/Indices
Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

11%

My opinion

Bullish above 83.88 USD

My targets

84.59 USD (+0.51%)

85.13 USD (+1.15%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 83.88 USD. The buyers' bullish objective is set at 84.59 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 85.13 USD. If there is any crossing, the next objective would be the resistance located at 85.85 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.6

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Additional analysis

Quotes

WTI CRUDE OIL rating 84.16 USD. The price registered an increase of +0.71% on the session with the lowest point at 83.71 USD and the highest point at 84.21 USD. The deviation from the price is +0.54% for the low point and -0.06% for the high point.

83.71

84.21

84.16

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

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:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	81.99	82.63	83.88	84.16	84.59	85.13	85.85
Change (%)	-2.58%	-1.82%	-0.33%	-	+0.51%	+1.15%	+2.01%
Change	-2.17	-1.53	-0.28	-	+0.43	+0.97	+1.69
Level	Intermediate	Minor	Major	-	Minor	Major	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	80.59	81.29	82.43	83.13	84.27	84.97	86.11
Camarilla	83.06	83.23	83.40	83.57	83.74	83.91	84.08
Woodie	80.81	81.40	82.65	83.24	84.49	85.08	86.33
Fibonacci	81.29	81.99	82.43	83.13	83.83	84.27	84.97

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	75.19	77.81	79.90	82.52	84.61	87.23	89.32
Camarilla	80.71	81.14	81.57	82.00	82.43	82.86	83.30
Woodie	74.94	77.68	79.65	82.39	84.36	87.10	89.07
Fibonacci	77.81	79.61	80.72	82.52	84.32	85.43	87.23

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	69.03	72.05	77.31	80.33	85.59	88.61	93.87
Camarilla	80.29	81.05	81.81	82.57	83.33	84.09	84.85
Woodie	70.15	72.61	78.43	80.89	86.71	89.17	94.99
Fibonacci	72.05	75.21	77.17	80.33	83.49	85.45	88.61

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):	68.46
MACD (12,26,9):	0.3000
Directional Movement:	17.73
AROON (14):	100.00
DEMA (21):	83.94
Parabolic SAR (0,02-0,02-0,2):	83.41
Elder Ray (13):	0.31
Super Trend (3,10):	83.32
Zig ZAG (10):	84.12
VORTEX (21):	1.2000
Stochastique (14,3,5):	96.90
TEMA (21):	84.13
Williams %R (14):	0.00
Chande Momentum Oscillator (20):	0.49
Repulse (5,40,3):	0.4100
ROCnROLL:	1
TRIX (15,9):	0.0400
Courbe Coppock:	2.72

MA7:	82.77
MA20:	83.72
MA50:	80.28
MA100:	75.50
MAexp7:	83.93
MAexp20:	83.59
MAexp50:	83.20
MAexp100:	82.95
Price / MA7:	+1.68%
Price / MA20:	+0.53%
Price / MA50:	+4.83%
Price / MA100:	+11.47%
Price / MAexp7:	+0.27%
Price / MAexp20:	+0.68%
Price / MAexp50:	+1.15%
Price / MAexp100:	+1.46%

Quotes : - 10 min delayed data - Futures NYMEX

News

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