WTI CRUDE OIL - 1H - Technical analysis published on 06/24/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 107.14 USD
My targets
108.88 USD (+1.17%)
110.47 USD (+2.65%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on WTI CRUDE OIL. This is a positive signal for buyers. As long as the price remains above 107.14 USD, a purchase could be considered. The first bullish objective is located at 108.88 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 110.47 USD as an objective. Crossing it would then enable buyers to target 117.63 USD. In the event of a return below 107.14 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
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
0
10
5.5
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 107.62 USD. On the day, this instrument gained +0.00% and was between 103.64 USD and 108.58 USD. This implies that the price is at +3.84% from its lowest and at -0.88% from its highest.103.64
108.58
107.62
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
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
A technical analysis in 1H of this WTI CRUDE OIL chart shows a bullish trend. 67.86% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase are moderate given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 102.32 | 104.58 | 107.14 | 107.62 | 110.47 | 117.63 | 122.20 |
| Change (%) | -4.92% | -2.82% | -0.45% | - | +2.65% | +9.30% | +13.55% |
| Change | -5.30 | -3.04 | -0.48 | - | +2.85 | +10.01 | +14.58 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 97.31 | 99.82 | 102.04 | 104.55 | 106.77 | 109.28 | 111.50 |
| Camarilla | 102.97 | 103.40 | 103.84 | 104.27 | 104.70 | 105.14 | 105.57 |
| Woodie | 97.18 | 99.75 | 101.91 | 104.48 | 106.64 | 109.21 | 111.37 |
| Fibonacci | 99.82 | 101.62 | 102.74 | 104.55 | 106.35 | 107.47 | 109.28 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 87.07 | 96.92 | 102.50 | 112.35 | 117.93 | 127.78 | 133.36 |
| Camarilla | 103.84 | 105.25 | 106.67 | 108.08 | 109.49 | 110.91 | 112.32 |
| Woodie | 84.94 | 95.85 | 100.37 | 111.28 | 115.80 | 126.71 | 131.23 |
| Fibonacci | 96.92 | 102.81 | 106.46 | 112.35 | 118.24 | 121.89 | 127.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 75.12 | 84.74 | 99.26 | 108.88 | 123.40 | 133.02 | 147.54 |
| Camarilla | 107.14 | 109.35 | 111.57 | 113.78 | 115.99 | 118.21 | 120.42 |
| Woodie | 77.57 | 85.97 | 101.71 | 110.11 | 125.85 | 134.25 | 149.99 |
| Fibonacci | 84.74 | 93.96 | 99.66 | 108.88 | 118.10 | 123.80 | 133.02 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 56.51 | |
| MACD (12,26,9): | 0.6900 | |
| Directional Movement: | 6.25 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 107.05 | |
| Parabolic SAR (0,02-0,02-0,2): | 106.30 | |
| Elder Ray (13): | 0.71 | |
| Super Trend (3,10): | 104.27 | |
| Zig ZAG (10): | 107.06 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 75.64 | |
| TEMA (21): | 107.65 | |
| Williams %R (14): | -30.77 | |
| Chande Momentum Oscillator (20): | 1.84 | |
| Repulse (5,40,3): | -0.1000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 4.88 |
| MA7: | 108.57 | |
| MA20: | 114.05 | |
| MA50: | 107.74 | |
| MA100: | 101.54 | |
| MAexp7: | 107.08 | |
| MAexp20: | 106.24 | |
| MAexp50: | 105.86 | |
| MAexp100: | 107.01 | |
| Price / MA7: | -0.88% | |
| Price / MA20: | -5.64% | |
| Price / MA50: | -0.11% | |
| Price / MA100: | +5.99% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | +0.77% | |
| Price / MAexp50: | +1.13% | |
| Price / MAexp100: | +0.05% |
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:
-
WTI Crude Oil Forecast June 27, 2022
-
WTI Crude Oil Forecast June 24, 2022
-
Technical Analysis: 23/06/2022 - WTI oil futures trade with bearish bias as trendline breached
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WTI Crude Oil and CAD/JPY Forecast June 23, 2022
-
WTI Crude Oil Forecast June 22, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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