WTI CRUDE OIL - 1H - Technical analysis published on 03/11/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 63.92 USD
My targets
65.98 USD (+1.59%)
67.98 USD (+4.67%)
My analysis
WTI CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 63.92 USD. The next resistance located at 65.98 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 67.98 USD. After this resistance, buyers could then target 76.38 USD.
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
0
10
5.9
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This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 64.95 USD. On the day, this instrument gained +0.79% and was traded between 64.64 USD and 65.16 USD over the period. The price is currently at +0.48% from its lowest and -0.32% from its highest.64.64
65.16
64.95
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
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 1H shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 61.27 | 63.20 | 64.93 | 64.95 | 65.98 | 67.98 | 76.38 |
| Change (%) | -5.67% | -2.69% | -0.03% | - | +1.59% | +4.67% | +17.60% |
| Change | -3.68 | -1.75 | -0.02 | - | +1.03 | +3.03 | +11.43 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.56 | 62.35 | 63.39 | 64.18 | 65.22 | 66.01 | 67.05 |
| Camarilla | 63.94 | 64.11 | 64.27 | 64.44 | 64.61 | 64.78 | 64.94 |
| Woodie | 61.70 | 62.41 | 63.53 | 64.24 | 65.36 | 66.07 | 67.19 |
| Fibonacci | 62.35 | 63.05 | 63.48 | 64.18 | 64.88 | 65.31 | 66.01 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 54.23 | 56.74 | 61.41 | 63.92 | 68.59 | 71.10 | 75.77 |
| Camarilla | 64.12 | 64.77 | 65.43 | 66.09 | 66.75 | 67.41 | 68.07 |
| Woodie | 55.32 | 57.28 | 62.50 | 64.46 | 69.68 | 71.64 | 76.86 |
| Fibonacci | 56.74 | 59.48 | 61.17 | 63.92 | 66.66 | 68.35 | 71.10 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 44.43 | 48.94 | 54.79 | 59.30 | 65.15 | 69.66 | 75.51 |
| Camarilla | 57.79 | 58.74 | 59.69 | 60.64 | 61.59 | 62.54 | 63.49 |
| Woodie | 45.10 | 49.28 | 55.46 | 59.64 | 65.82 | 70.00 | 76.18 |
| Fibonacci | 48.94 | 52.90 | 55.34 | 59.30 | 63.26 | 65.70 | 69.66 |
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): | 55.41 | |
| MACD (12,26,9): | 0.1800 | |
| Directional Movement: | 3.57 | |
| AROON (14): | 42.85 | |
| DEMA (21): | 64.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 63.95 | |
| Elder Ray (13): | 0.13 | |
| Super Trend (3,10): | 63.83 | |
| Zig ZAG (10): | 64.85 | |
| VORTEX (21): | 1.1600 | |
| Stochastique (14,3,5): | 87.78 | |
| TEMA (21): | 65.07 | |
| Williams %R (14): | -15.71 | |
| Chande Momentum Oscillator (20): | 1.11 | |
| Repulse (5,40,3): | -0.1600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 2.05 |
| MA7: | 64.22 | |
| MA20: | 62.10 | |
| MA50: | 56.86 | |
| MA100: | 50.11 | |
| MAexp7: | 64.86 | |
| MAexp20: | 64.62 | |
| MAexp50: | 64.57 | |
| MAexp100: | 64.37 | |
| Price / MA7: | +1.14% | |
| Price / MA20: | +4.59% | |
| Price / MA50: | +14.23% | |
| Price / MA100: | +29.61% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.51% | |
| Price / MAexp50: | +0.59% | |
| Price / MAexp100: | +0.90% |
Quotes :
2021-03-11 06:28:37
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10 min delayed data
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NYMEX Futures
News
The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:
-
WTI Crude Oil and USD/CAD Forecast March 11, 2021
-
WTI Crude Oil Forecast March 10, 2021
-
WTI Crude Oil and USD/CAD Forecast March 9, 2021
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W&T Offshore, Inc. - WTI Stock Chart Technical Analysis for 03-05-2021
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WTI Crude Oil Forecast March 8, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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