WTI CRUDE OIL - 15 min. - Technical analysis published on 01/10/2024 (GMT)
- 146
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
One daily analysis for free from 
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 71.88 USD
My targets
73.29 USD (+0.48%)
74.34 USD (+1.92%)
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 71.88 USD. The buyers' bullish objective is set at 73.29 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 74.34 USD. If there is any crossing, the next objective would be the resistance located at 75.75 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
0
10
8
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 berlin77. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 72.94 USD. The price has increased by +0.97% since the last closing and was traded between 71.66 USD and 73.47 USD over the period. The price is currently at +1.79% from its lowest and -0.72% from its highest.71.66
73.47
72.94
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
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 (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows a strongly overall bullish trend. The signals given by the moving averages are 89.29% 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.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 71.43 | 72.40 | 72.93 | 72.94 | 73.64 | 74.25 | 75.60 |
| Change (%) | -2.07% | -0.74% | -0.01% | - | +0.96% | +1.80% | +3.65% |
| Change | -1.51 | -0.54 | -0.01 | - | +0.70 | +1.31 | +2.66 |
| Level | Major | Minor | Major | - | Intermediate | Intermediate | 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 | 68.37 | 69.42 | 70.83 | 71.88 | 73.29 | 74.34 | 75.75 |
| Camarilla | 71.56 | 71.79 | 72.02 | 72.24 | 72.47 | 72.69 | 72.92 |
| Woodie | 68.55 | 69.51 | 71.01 | 71.97 | 73.47 | 74.43 | 75.93 |
| Fibonacci | 69.42 | 70.36 | 70.94 | 71.88 | 72.82 | 73.40 | 74.34 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 65.69 | 67.48 | 70.65 | 72.44 | 75.61 | 77.40 | 80.57 |
| Camarilla | 72.45 | 72.90 | 73.36 | 73.81 | 74.27 | 74.72 | 75.17 |
| Woodie | 66.37 | 67.83 | 71.33 | 72.79 | 76.29 | 77.75 | 81.25 |
| Fibonacci | 67.48 | 69.38 | 70.55 | 72.44 | 74.34 | 75.51 | 77.40 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 59.54 | 63.78 | 67.71 | 71.95 | 75.88 | 80.12 | 84.05 |
| Camarilla | 69.40 | 70.15 | 70.90 | 71.65 | 72.40 | 73.15 | 73.90 |
| Woodie | 59.40 | 63.70 | 67.57 | 71.87 | 75.74 | 80.04 | 83.91 |
| Fibonacci | 63.78 | 66.90 | 68.83 | 71.95 | 75.07 | 77.00 | 80.12 |
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): | 74.29 | |
| MACD (12,26,9): | 0.2300 | |
| Directional Movement: | 29.98 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 72.89 | |
| Parabolic SAR (0,02-0,02-0,2): | 72.80 | |
| Elder Ray (13): | 0.56 | |
| Super Trend (3,10): | 72.54 | |
| Zig ZAG (10): | 73.30 | |
| VORTEX (21): | 1.1600 | |
| Stochastique (14,3,5): | 88.38 | |
| TEMA (21): | 73.11 | |
| Williams %R (14): | -12.74 | |
| Chande Momentum Oscillator (20): | 1.03 | |
| Repulse (5,40,3): | 0.2400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 2.82 |
| MA7: | 72.21 | |
| MA20: | 72.47 | |
| MA50: | 74.90 | |
| MA100: | 80.19 | |
| MAexp7: | 73.08 | |
| MAexp20: | 72.65 | |
| MAexp50: | 72.47 | |
| MAexp100: | 72.32 | |
| Price / MA7: | +1.01% | |
| Price / MA20: | +0.65% | |
| Price / MA50: | -2.62% | |
| Price / MA100: | -9.04% | |
| Price / MAexp7: | -0.18% | |
| Price / MAexp20: | +0.41% | |
| Price / MAexp50: | +0.66% | |
| Price / MAexp100: | +0.87% |
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:
-
Technical Analysis: 07/12/2023 - WTI oil futures: Is the sell-off overdone?
-
WTI faces technical hurdles as Opec+ rumours swirl | Trading on the Mark
-
Technical Analysis: 30/11/2023 - WTI oil futures in a fierce battle with the 200-day SMA
-
Weekly Technical Outlook: 27/11/2023 - WTI, USDJPY, EURUSD
-
Weekly Technical Outlook: 27/11/2023 - WTI, USDJPY, EURUSD
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.