WTI CRUDE OIL - Daily - Technical analysis published on 06/24/2024 (GMT)
- 121
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 77.33 USD
My targets
82.64 USD (+2.39%)
84.63 USD (+4.86%)
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 77.33 USD, a purchase could be considered. The first bullish objective is located at 82.64 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 84.63 USD as an objective. Crossing it would then enable buyers to target 88.22 USD. In the event of a return below 77.33 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. 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
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 Muhahaha. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL price is 80.71 USD. On the day, this instrument lost -0.03% and was between 80.23 USD and 80.77 USD. This implies that the price is at +0.60% from its lowest and at -0.07% from its highest.80.23
80.77
80.71
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend 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 (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this WTI CRUDE OIL chart shows a bullish trend. 78.57% 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 probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 67.30 | 74.05 | 77.33 | 80.71 | 82.64 | 84.63 | 88.22 |
Change (%) | -16.62% | -8.25% | -4.19% | - | +2.39% | +4.86% | +9.30% |
Change | -13.41 | -6.66 | -3.38 | - | +1.93 | +3.92 | +7.51 |
Level | Major | Intermediate | Major | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 78.68 | 79.52 | 80.12 | 80.96 | 81.56 | 82.40 | 83.00 |
Camarilla | 80.33 | 80.47 | 80.60 | 80.73 | 80.86 | 80.99 | 81.13 |
Woodie | 78.57 | 79.46 | 80.01 | 80.90 | 81.45 | 82.34 | 82.89 |
Fibonacci | 79.52 | 80.07 | 80.41 | 80.96 | 81.51 | 81.85 | 82.40 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 73.50 | 75.37 | 78.05 | 79.92 | 82.60 | 84.47 | 87.15 |
Camarilla | 79.48 | 79.90 | 80.31 | 80.73 | 81.15 | 81.56 | 81.98 |
Woodie | 73.91 | 75.57 | 78.46 | 80.12 | 83.01 | 84.67 | 87.56 |
Fibonacci | 75.37 | 77.11 | 78.18 | 79.92 | 81.66 | 82.73 | 84.47 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 70.01 | 72.71 | 74.48 | 77.18 | 78.95 | 81.65 | 83.42 |
Camarilla | 75.02 | 75.43 | 75.84 | 76.25 | 76.66 | 77.07 | 77.48 |
Woodie | 69.55 | 72.48 | 74.02 | 76.95 | 78.49 | 81.42 | 82.96 |
Fibonacci | 72.71 | 74.42 | 75.47 | 77.18 | 78.89 | 79.94 | 81.65 |
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): | 61.62 | |
MACD (12,26,9): | 0.8500 | |
Directional Movement: | 12.13 | |
AROON (14): | 92.86 | |
DEMA (21): | 79.32 | |
Parabolic SAR (0,02-0,02-0,2): | 75.29 | |
Elder Ray (13): | 1.40 | |
Super Trend (3,10): | 76.19 | |
Zig ZAG (10): | 80.71 | |
VORTEX (21): | 1.1400 | |
Stochastique (14,3,5): | 91.99 | |
TEMA (21): | 80.51 | |
Williams %R (14): | -11.12 | |
Chande Momentum Oscillator (20): | 5.90 | |
Repulse (5,40,3): | 1.3400 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0300 | |
Courbe Coppock: | 12.89 |
MA7: | 80.21 | |
MA20: | 77.56 | |
MA50: | 78.40 | |
MA100: | 77.86 | |
MAexp7: | 80.06 | |
MAexp20: | 78.56 | |
MAexp50: | 78.16 | |
MAexp100: | 77.42 | |
Price / MA7: | +0.62% | |
Price / MA20: | +4.06% | |
Price / MA50: | +2.95% | |
Price / MA100: | +3.66% | |
Price / MAexp7: | +0.81% | |
Price / MAexp20: | +2.74% | |
Price / MAexp50: | +3.26% | |
Price / MAexp100: | +4.25% |
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:
-
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
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 - Daily