WTI CRUDE OIL - 15 min. - Technical analysis published on 03/22/2024 (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:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 81.10 USD
My targets
81.89 USD (+0.79%)
82.72 USD (+1.81%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 81.10 USD, you could try to benefit from the boom. The first bullish objective is located at 81.89 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 82.72 USD as an objective. Crossing it would then enable buyers to target 83.51 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.
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
7.3
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 81.25 USD. The price registered an increase of +0.22% on the session and was traded between 80.42 USD and 81.45 USD over the period. The price is currently at +1.03% from its lowest and -0.25% from its highest.80.42
81.45
81.25
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a strongly bullish trend. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
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 | 79.69 | 80.31 | 81.04 | 81.25 | 81.92 | 82.51 | 83.12 |
| Change (%) | -1.92% | -1.16% | -0.26% | - | +0.82% | +1.55% | +2.30% |
| Change | -1.56 | -0.94 | -0.21 | - | +0.67 | +1.26 | +1.87 |
| Level | Major | Major | Intermediate | - | Intermediate | Minor | Intermediate |
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 | 78.65 | 79.48 | 80.27 | 81.10 | 81.89 | 82.72 | 83.51 |
| Camarilla | 80.63 | 80.77 | 80.92 | 81.07 | 81.22 | 81.37 | 81.52 |
| Woodie | 78.64 | 79.47 | 80.26 | 81.09 | 81.88 | 82.71 | 83.50 |
| Fibonacci | 79.48 | 80.10 | 80.48 | 81.10 | 81.72 | 82.10 | 82.72 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 66.62 | |
| MACD (12,26,9): | 0.1400 | |
| Directional Movement: | 12.56 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 81.25 | |
| Parabolic SAR (0,02-0,02-0,2): | 80.92 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 80.85 | |
| Zig ZAG (10): | 81.28 | |
| VORTEX (21): | 1.1900 | |
| Stochastique (14,3,5): | 71.61 | |
| TEMA (21): | 81.32 | |
| Williams %R (14): | -29.41 | |
| Chande Momentum Oscillator (20): | 0.15 | |
| Repulse (5,40,3): | 0.1700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 0.65 |
| MA7: | 81.37 | |
| MA20: | 79.18 | |
| MA50: | 76.23 | |
| MA100: | 74.48 | |
| MAexp7: | 81.24 | |
| MAexp20: | 81.06 | |
| MAexp50: | 80.91 | |
| MAexp100: | 80.95 | |
| Price / MA7: | -0.15% | |
| Price / MA20: | +2.61% | |
| Price / MA50: | +6.59% | |
| Price / MA100: | +9.09% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.23% | |
| Price / MAexp50: | +0.42% | |
| Price / MAexp100: | +0.37% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
Don't forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news was as follows:
-
Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
-
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
-
Technical cheat sheet: The trader’s guide to Crude Oil WTI
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Technical Analysis: 29/02/2024 - WTI oil futures restricted in a bullish trend
This member declared not having a position on this financial instrument or a related financial instrument.
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