WTI CRUDE OIL - 15 min. - Technical analysis published on 01/29/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 77.44 USD
My targets
78.83 USD (+0.16%)
79.64 USD (+1.20%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 77.44 USD, you could try to benefit from the boom. The first bullish objective is located at 78.83 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 79.64 USD as an objective. Crossing it would then enable buyers to target 81.03 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.
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
8.2
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This analysis was given by berlin77. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL price is 78.70 USD. The price has increased by +0.89% since the last closing and was between 78.67 USD and 79.29 USD. This implies that the price is at +0.04% from its lowest and at -0.74% from its highest.78.67
79.29
78.70
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 75.40 | 77.51 | 78.62 | 78.70 | 80.90 | 88.76 | 92.48 |
| Change (%) | -4.19% | -1.51% | -0.10% | - | +2.80% | +12.78% | +17.51% |
| Change | -3.30 | -1.19 | -0.08 | - | +2.20 | +10.06 | +13.78 |
| Level | Major | Minor | Minor | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 74.43 | 75.24 | 76.63 | 77.44 | 78.83 | 79.64 | 81.03 |
| Camarilla | 77.41 | 77.61 | 77.81 | 78.01 | 78.21 | 78.41 | 78.62 |
| Woodie | 74.71 | 75.39 | 76.91 | 77.59 | 79.11 | 79.79 | 81.31 |
| Fibonacci | 75.24 | 76.08 | 76.60 | 77.44 | 78.28 | 78.80 | 79.64 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 68.59 | 70.58 | 74.29 | 76.28 | 79.99 | 81.98 | 85.69 |
| Camarilla | 76.44 | 76.97 | 77.49 | 78.01 | 78.53 | 79.06 | 79.58 |
| Woodie | 69.46 | 71.01 | 75.16 | 76.71 | 80.86 | 82.41 | 86.56 |
| Fibonacci | 70.58 | 72.75 | 74.10 | 76.28 | 78.45 | 79.80 | 81.98 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 59.34 | 63.58 | 67.51 | 71.75 | 75.68 | 79.92 | 83.85 |
| Camarilla | 69.20 | 69.95 | 70.70 | 71.45 | 72.20 | 72.95 | 73.70 |
| Woodie | 59.20 | 63.50 | 67.37 | 71.67 | 75.54 | 79.84 | 83.71 |
| Fibonacci | 63.58 | 66.70 | 68.63 | 71.75 | 74.87 | 76.80 | 79.92 |
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): | 69.86 | |
| MACD (12,26,9): | 0.4400 | |
| Directional Movement: | 34.41 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 78.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 77.95 | |
| Elder Ray (13): | 0.47 | |
| Super Trend (3,10): | 78.06 | |
| Zig ZAG (10): | 78.88 | |
| VORTEX (21): | 1.3200 | |
| Stochastique (14,3,5): | 74.90 | |
| TEMA (21): | 78.92 | |
| Williams %R (14): | -25.17 | |
| Chande Momentum Oscillator (20): | 0.83 | |
| Repulse (5,40,3): | -0.0700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 2.26 |
| MA7: | 75.94 | |
| MA20: | 73.44 | |
| MA50: | 73.57 | |
| MA100: | 79.12 | |
| MAexp7: | 78.69 | |
| MAexp20: | 78.12 | |
| MAexp50: | 77.56 | |
| MAexp100: | 77.15 | |
| Price / MA7: | +3.63% | |
| Price / MA20: | +7.16% | |
| Price / MA50: | +6.97% | |
| Price / MA100: | -0.53% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.74% | |
| Price / MAexp50: | +1.47% | |
| Price / MAexp100: | +2.01% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
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Technical Analysis: 25/01/2024 - WTI oil futures challenge 61.8% Fibo
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Technical Analysis: 18/01/2024 - WTI oil futures swing within neutral triangle
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Technical Analysis: 11/01/2024 - WTI crude oil remains within descending channel
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Technical Analysis: 07/12/2023 - WTI oil futures: Is the sell-off overdone?
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WTI faces technical hurdles as Opec+ rumours swirl | Trading on the Mark
This member declared not having a position on this financial instrument or a related financial instrument.
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