WTI CRUDE OIL - 15 min. - Technical analysis published on 01/29/2024 (GMT)
- 104
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
50%
33%
My opinion
Bearish under 78.83 USD
My targets
77.44 USD (-0.45%)
76.63 USD (-1.50%)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for WTI CRUDE OIL as long as the price remains well below 78.83 USD. The next bearish objective for sellers is set at 77.44 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 76.63 USD. In case of crossing, the next objective would be the support located at 75.24 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 77.44 USD. With this support, against the trend traders who want to buy WTI CRUDE OIL on a buy signal from their trading strategy should not hesitate to act.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
1.1
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 amarnath007in. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 77.79 USD. The price registered a decrease of -0.28% on the session with the lowest point at 77.64 USD and the highest point at 79.29 USD. The deviation from the price is +0.19% for the low point and -1.89% for the high point.77.64
79.29
77.79
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 slightly bullish. 60.71% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 15 minutes
The probability of a further decline is low given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Momentum indicator is back under 0
Type : Bearish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 73.94 | 75.40 | 77.51 | 77.79 | 78.62 | 80.90 | 88.76 |
| Change (%) | -4.95% | -3.07% | -0.36% | - | +1.07% | +4.00% | +14.10% |
| Change | -3.85 | -2.39 | -0.28 | - | +0.83 | +3.11 | +10.97 |
| Level | Intermediate | Major | Minor | - | Minor | Intermediate | Minor |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 45.67 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | 2.81 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 78.26 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.69 | |
| Elder Ray (13): | -0.11 | |
| Super Trend (3,10): | 78.06 | |
| Zig ZAG (10): | 78.07 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 17.12 | |
| TEMA (21): | 78.10 | |
| Williams %R (14): | -96.15 | |
| Chande Momentum Oscillator (20): | -0.46 | |
| Repulse (5,40,3): | -0.5700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.60 |
| MA7: | 75.79 | |
| MA20: | 73.41 | |
| MA50: | 73.55 | |
| MA100: | 79.12 | |
| MAexp7: | 78.10 | |
| MAexp20: | 78.28 | |
| MAexp50: | 78.15 | |
| MAexp100: | 77.78 | |
| Price / MA7: | +2.64% | |
| Price / MA20: | +5.97% | |
| Price / MA50: | +5.76% | |
| Price / MA100: | -1.68% | |
| Price / MAexp7: | -0.40% | |
| Price / MAexp20: | -0.63% | |
| Price / MAexp50: | -0.46% | |
| Price / MAexp100: | +0.01% |
Quotes :
-
10 min delayed data
-
NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
-
Technical Analysis: 25/01/2024 - WTI oil futures challenge 61.8% Fibo
-
Technical Analysis: 18/01/2024 - WTI oil futures swing within neutral triangle
-
Technical Analysis: 11/01/2024 - WTI crude oil remains within descending channel
-
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
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.