WTI CRUDE OIL - 15 min. - Technical analysis published on 01/29/2024 (GMT)
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- 0
- Timeframe : 15 min.
- - Analysis generated on
- Status : NEUTRAL
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Slightly bullish
Technical indicators
61%
11%
28%
My opinion
Neutral between 77.44 USD and 78.83 USD
My targets
-
My analysis
The basic trend is slightly bullish and the short term is tentatively bearish. With such a pattern, the price could just as easily move towards the first support as the first resistance. The first support is located at 77.44 USD. The first resistance is located at 78.83 USD. With no basic trend, it will be important to monitor the reaction of the price to the levels cited. A bearish break in the support could quickly reverse the basic trend. A bullish break in resistance would be welcome to boost the slightly bullish basic trend. On the other hand, if the price is blocked by support or resistance, it could be attractive to trade against the trend on the last short-term movement registered by WTI CRUDE OIL.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
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Additional analysis
Quotes
WTI CRUDE OIL rating 78.01 USD. The price registered an increase of +0.00% on the session with the lowest point at 77.57 USD and the highest point at 79.29 USD. The deviation from the price is +0.57% for the low point and -1.61% for the high point.77.57
79.29
78.01
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
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 WTI CRUDE OIL in 15 min. shows an overall slightly bullish trend. 53.57% of the signals given by moving averages are bullish. Caution: the slightly bearish signals currently given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Aroon indicator bullish trend
Type : Bullish
Timeframe : 15 minutes
Momentum indicator is back over 0
Type : Bullish
Timeframe : 15 minutes
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 | 73.94 | 75.40 | 77.51 | 78.01 | 78.62 | 80.90 | 88.76 |
| Change (%) | -5.22% | -3.35% | -0.64% | - | +0.78% | +3.70% | +13.78% |
| Change | -4.07 | -2.61 | -0.50 | - | +0.61 | +2.89 | +10.75 |
| Level | Intermediate | Major | Minor | - | Minor | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 51.56 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | 7.01 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 78.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 77.63 | |
| Elder Ray (13): | 0.07 | |
| Super Trend (3,10): | 78.28 | |
| Zig ZAG (10): | 78.14 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 63.28 | |
| TEMA (21): | 78.01 | |
| Williams %R (14): | -29.87 | |
| Chande Momentum Oscillator (20): | -0.02 | |
| Repulse (5,40,3): | -0.1300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.21 |
| MA7: | 75.85 | |
| MA20: | 73.41 | |
| MA50: | 73.55 | |
| MA100: | 79.12 | |
| MAexp7: | 78.08 | |
| MAexp20: | 78.09 | |
| MAexp50: | 78.09 | |
| MAexp100: | 77.82 | |
| Price / MA7: | +2.85% | |
| Price / MA20: | +6.27% | |
| Price / MA50: | +6.06% | |
| Price / MA100: | -1.40% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.10% | |
| Price / MAexp100: | +0.24% |
Quotes :
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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:
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Technical Analysis: 25/01/2024 - WTI oil futures challenge 61.8% Fibo
-
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
-
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.
About author
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