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 05/02/2024 (GMT)

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Timeframe : 15 min.
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

61%

28%

My opinion

Bearish under 79.80 USD

My targets

78.03 USD (-1.08%)

77.06 USD (-2.31%)

My analysis

The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 79.80 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 78.03 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 77.06 USD as an objective. Crossing it would then enable sellers to target 75.29 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 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

7.3

Comment on the analysis

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 KBPRASAD. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 78.88 USD. On the day, this instrument lost -0.15% with the lowest point at 78.59 USD and the highest point at 79.90 USD. The deviation from the price is +0.37% for the low point and -1.28% for the high point.

78.59

79.90

78.88

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

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 an item:

New LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. 89.29% 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.

In fact, 11 technical indicators on 18 studied are currently positioned bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

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

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish harami

Type : Bullish

Timeframe : 15 minutes

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	68.52	75.27	78.55	78.88	80.95	81.56	82.42
Change (%)	-13.13%	-4.58%	-0.42%	-	+2.62%	+3.40%	+4.49%
Change	-10.36	-3.61	-0.33	-	+2.07	+2.68	+3.54
Level	Major	Intermediate	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
Standard	75.29	77.06	78.03	79.80	80.77	82.54	83.51
Camarilla	78.25	78.50	78.75	79.00	79.25	79.50	79.75
Woodie	74.89	76.86	77.63	79.60	80.37	82.34	83.11
Fibonacci	77.06	78.11	78.75	79.80	80.85	81.49	82.54

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	77.79	79.24	81.55	83.00	85.31	86.76	89.07
Camarilla	82.82	83.16	83.51	83.85	84.20	84.54	84.88
Woodie	78.21	79.46	81.97	83.22	85.73	86.98	89.49
Fibonacci	79.24	80.68	81.57	83.00	84.44	85.33	86.76

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	68.68	73.75	76.38	81.45	84.08	89.15	91.78
Camarilla	76.88	77.59	78.29	79.00	79.71	80.41	81.12
Woodie	67.45	73.14	75.15	80.84	82.85	88.54	90.55
Fibonacci	73.75	76.70	78.51	81.45	84.40	86.21	89.15

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):	38.07
MACD (12,26,9):	-0.1500
Directional Movement:	-11.66
AROON (14):	-57.15
DEMA (21):	79.14
Parabolic SAR (0,02-0,02-0,2):	79.49
Elder Ray (13):	-0.21
Super Trend (3,10):	79.76
Zig ZAG (10):	79.03
VORTEX (21):	0.8900
Stochastique (14,3,5):	30.73
TEMA (21):	78.94
Williams %R (14):	-68.75
Chande Momentum Oscillator (20):	-0.80
Repulse (5,40,3):	-0.1100
ROCnROLL:	2
TRIX (15,9):	-0.0200
Courbe Coppock:	1.32

MA7:	81.84
MA20:	83.02
MA50:	80.64
MA100:	76.02
MAexp7:	79.07
MAexp20:	79.29
MAexp50:	79.43
MAexp100:	79.69
Price / MA7:	-3.62%
Price / MA20:	-4.99%
Price / MA50:	-2.18%
Price / MA100:	+3.76%
Price / MAexp7:	-0.24%
Price / MAexp20:	-0.52%
Price / MAexp50:	-0.69%
Price / MAexp100:	-1.02%

Quotes : - 10 min delayed data - 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:

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

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