WTI CRUDE OIL
WTI CRUDE OIL
- USD (-)
- 10 min delayed data - NYMEX Futures
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Commodities
Ticker: WBS
ISIN:

WTI CRUDE OIL - 15 min. - Technical analysis published on 02/01/2024 (GMT)

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  • Timeframe : 15 min.
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 76.49 USD
My targets
74.88 USD (-0.92%)
73.90 USD (-2.21%)
My analysis
The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 76.49 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 74.88 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 73.90 USD as an objective. Crossing it would then enable sellers to target 72.29 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.3

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:
1H Daily Weekly

Additional analysis

Quotes

WTI CRUDE OIL rating 75.57 USD. The price registered a decrease of -0.37% on the session and was traded between 74.09 USD and 76.95 USD over the period. The price is currently at +2.00% from its lowest and -1.79% from its highest.

74.09
76.95
75.57

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The Central Records scanner for higher/lower results shows the following items:

Central Records

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a 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 bearish. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 15 minutes


Previous candle closed under Bollinger bands

Type : Neutral

Timeframe : 15 minutes

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Central Indicators

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Central Candlesticks

Bearish harami

Type : Bearish

Timeframe : 15 minutes


Bearish harami cross

Type : Bearish

Timeframe : 15 minutes




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 73.94 74.71 75.40 75.57 76.40 77.49 78.14
Change (%) -2.16% -1.14% -0.22% - +1.10% +2.54% +3.40%
Change -1.63 -0.86 -0.17 - +0.83 +1.92 +2.57
Level Minor Minor Major - Minor Intermediate Intermediate



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
Standard72.2973.9074.8876.4977.4779.0880.06
Camarilla75.1475.3875.6175.8576.0976.3376.56
Woodie71.9773.7474.5676.3377.1578.9279.74
Fibonacci73.9074.8975.5076.4977.4878.0979.08


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard68.5970.5874.2976.2879.9981.9885.69
Camarilla76.4476.9777.4978.0178.5379.0679.58
Woodie69.4671.0175.1676.7180.8682.4186.56
Fibonacci70.5872.7574.1076.2878.4579.8081.98


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard59.3463.5867.5171.7575.6879.9283.85
Camarilla69.2069.9570.7071.4572.2072.9573.70
Woodie59.2063.5067.3771.6775.5479.8483.71
Fibonacci63.5866.7068.6371.7574.8776.8079.92

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): 38.93
MACD (12,26,9): -0.3600
Directional Movement: -18.99
AROON (14): -78.57
DEMA (21): 75.60
Parabolic SAR (0,02-0,02-0,2): 76.61
Elder Ray (13): -0.84
Super Trend (3,10): 75.96
Zig ZAG (10): 75.17
VORTEX (21): 0.8400
Stochastique (14,3,5): 18.20
TEMA (21): 75.25
Williams %R (14): -56.99
Chande Momentum Oscillator (20): -1.39
Repulse (5,40,3): 0.5800
ROCnROLL: 2
TRIX (15,9): -0.0200
Courbe Coppock: 2.95
MA7: 76.64
MA20: 74.08
MA50: 73.47
MA100: 78.82
MAexp7: 75.38
MAexp20: 75.98
MAexp50: 76.18
MAexp100: 76.30
Price / MA7: -1.40%
Price / MA20: +2.01%
Price / MA50: +2.86%
Price / MA100: -4.12%
Price / MAexp7: +0.25%
Price / MAexp20: -0.54%
Price / MAexp50: -0.80%
Price / MAexp100: -0.96%

Quotes : - 10 min delayed data - NYMEX Futures

This member declared not having a position on this financial instrument or a related financial instrument.

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