WTI CRUDE OIL - 15 min. - Technical analysis published on 05/03/2024 (GMT)
- 69
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
50%
6%
44%
My opinion
Bullish above 79.09 USD
My targets
79.76 USD (+0.66%)
80.58 USD (+1.69%)
My analysis
The strong short-term increase of WTI CRUDE OIL should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 79.09 USD, a purchase could be considered. The first bullish objective is located at 79.76 USD. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 80.58 USD. If there is any crossing, the next objective would be the resistance at 81.25 USD. Caution, if there is a return under 79.09 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
2.7
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
The WTI CRUDE OIL price is 79.24 USD. On the day, this instrument gained +0.37% and was traded between 78.80 USD and 79.39 USD over the period. The price is currently at +0.56% from its lowest and -0.19% from its highest.78.80
79.39
79.24
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
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a neutral trend. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 15 minutes
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 15 minutes
In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 15 minutes
Momentum indicator is back under 0
Type : Bearish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 68.52 | 75.27 | 78.55 | 79.24 | 79.90 | 80.86 | 81.56 |
| Change (%) | -13.53% | -5.01% | -0.87% | - | +0.83% | +2.04% | +2.93% |
| Change | -10.72 | -3.97 | -0.69 | - | +0.66 | +1.62 | +2.32 |
| Level | Major | Intermediate | Major | - | 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 | 76.78 | 77.60 | 78.27 | 79.09 | 79.76 | 80.58 | 81.25 |
| Camarilla | 78.54 | 78.68 | 78.81 | 78.95 | 79.09 | 79.22 | 79.36 |
| Woodie | 76.72 | 77.56 | 78.21 | 79.05 | 79.70 | 80.54 | 81.19 |
| Fibonacci | 77.60 | 78.17 | 78.52 | 79.09 | 79.66 | 80.01 | 80.58 |
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): | 53.74 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | -0.09 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 79.11 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.86 | |
| Elder Ray (13): | 0.04 | |
| Super Trend (3,10): | 79.34 | |
| Zig ZAG (10): | 79.16 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 64.92 | |
| TEMA (21): | 79.10 | |
| Williams %R (14): | -30.77 | |
| Chande Momentum Oscillator (20): | 0.06 | |
| Repulse (5,40,3): | 0.0100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.16 |
| MA7: | 81.31 | |
| MA20: | 82.68 | |
| MA50: | 80.68 | |
| MA100: | 76.15 | |
| MAexp7: | 79.15 | |
| MAexp20: | 79.13 | |
| MAexp50: | 79.14 | |
| MAexp100: | 79.24 | |
| Price / MA7: | -2.55% | |
| Price / MA20: | -4.16% | |
| Price / MA50: | -1.78% | |
| Price / MA100: | +4.06% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.14% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | -0% |
Quotes :
-
10 min delayed data
-
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: 04/04/2024 - WTI futures surge to a 5-month high
-
Technical Analysis: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis WTI CRUDE OIL - 15 min.