WTI CRUDE OIL - 15 min. - Technical analysis published on 03/21/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 81.73 USD
My targets
81.78 USD (+0.04%)
83.12 USD (+1.68%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on WTI CRUDE OIL. This is a positive signal for buyers. As long as the price remains above 81.73 USD, a purchase could be considered. The first bullish objective is located at 81.78 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 83.12 USD as an objective. Crossing it would then enable buyers to target 84.16 USD. In the event of a return below 81.73 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
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
4.8
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Additional analysis
Quotes
WTI CRUDE OIL rating 81.75 USD. The price has increased by +0.59% since the last closing and was between 81.45 USD and 81.77 USD. This implies that the price is at +0.37% from its lowest and at -0.02% from its highest.81.45
81.77
81.75
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
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 bullish. 64.29% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Aroon indicator bearish trend
Type : Bearish
Timeframe : 15 minutes
Price is back over the pivot point
Type : Bullish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 78.14 | 79.69 | 80.84 | 81.75 | 81.81 | 83.12 | 84.16 |
| Change (%) | -4.42% | -2.52% | -1.11% | - | +0.07% | +1.68% | +2.95% |
| Change | -3.61 | -2.06 | -0.91 | - | +0.06 | +1.37 | +2.41 |
| Level | Minor | Intermediate | Major | - | Minor | Major | 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 | 81.69 | 81.70 | 81.73 | 81.74 | 81.77 | 81.78 | 81.81 |
| Camarilla | 81.74 | 81.74 | 81.75 | 81.75 | 81.75 | 81.76 | 81.76 |
| Woodie | 81.69 | 81.71 | 81.73 | 81.75 | 81.77 | 81.79 | 81.81 |
| Fibonacci | 81.70 | 81.72 | 81.73 | 81.74 | 81.76 | 81.77 | 81.78 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.60 | 74.41 | 77.43 | 79.24 | 82.26 | 84.07 | 87.09 |
| Camarilla | 79.13 | 79.58 | 80.02 | 80.46 | 80.90 | 81.35 | 81.79 |
| Woodie | 73.22 | 74.71 | 78.05 | 79.54 | 82.88 | 84.37 | 87.71 |
| Fibonacci | 74.41 | 76.25 | 77.39 | 79.24 | 81.08 | 82.22 | 84.07 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.32 | 66.08 | 72.74 | 76.50 | 83.16 | 86.92 | 93.58 |
| Camarilla | 76.53 | 77.48 | 78.44 | 79.39 | 80.35 | 81.30 | 82.26 |
| Woodie | 63.76 | 66.81 | 74.18 | 77.23 | 84.60 | 87.65 | 95.02 |
| Fibonacci | 66.08 | 70.06 | 72.52 | 76.50 | 80.48 | 82.94 | 86.92 |
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): | 59.59 | |
| MACD (12,26,9): | 0.0600 | |
| Directional Movement: | 5.35 | |
| AROON (14): | -14.28 | |
| DEMA (21): | 81.75 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.61 | |
| Elder Ray (13): | 0.05 | |
| Super Trend (3,10): | 81.51 | |
| Zig ZAG (10): | 81.75 | |
| VORTEX (21): | 1.1500 | |
| Stochastique (14,3,5): | 79.33 | |
| TEMA (21): | 81.78 | |
| Williams %R (14): | -10.53 | |
| Chande Momentum Oscillator (20): | -0.03 | |
| Repulse (5,40,3): | 0.0400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.25 |
| MA7: | 81.19 | |
| MA20: | 78.95 | |
| MA50: | 76.26 | |
| MA100: | 74.49 | |
| MAexp7: | 81.70 | |
| MAexp20: | 81.66 | |
| MAexp50: | 81.62 | |
| MAexp100: | 81.73 | |
| Price / MA7: | +0.69% | |
| Price / MA20: | +3.55% | |
| Price / MA50: | +7.20% | |
| Price / MA100: | +9.75% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.11% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.02% |
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:
-
Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
-
Technical Analysis: 08/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
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Technical cheat sheet: The trader’s guide to Crude Oil WTI
-
Technical Analysis: 29/02/2024 - WTI oil futures restricted in a bullish trend
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Oil Forecast for Feb 22, 2024, by Chris Lewis #fxempire #trading #crudeoil #usoil
This member declared not having a position on this financial instrument or a related financial instrument.
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