WTI CRUDE OIL - 1H - Technical analysis published on 07/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
28%
39%
33%
My opinion
Bearish under 82.64 USD
My targets
81.63 USD (-0.79%)
81.25 USD (-1.25%)
My analysis
WTI CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 82.64 USD. The next support located at 81.63 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 81.25 USD. Below this support, sellers could then target 80.81 USD.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
4.1
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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 82.28 USD. On the day, this instrument gained +0.09% and was traded between 81.61 USD and 82.58 USD over the period. The price is currently at +0.82% from its lowest and -0.36% from its highest.81.61
82.58
82.28
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 1H chart of WTI CRUDE OIL indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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 | 81.25 | 81.63 | 82.09 | 82.28 | 82.64 | 83.73 | 84.55 |
| Change (%) | -1.25% | -0.79% | -0.23% | - | +0.44% | +1.76% | +2.76% |
| Change | -1.03 | -0.65 | -0.19 | - | +0.36 | +1.45 | +2.27 |
| Level | Minor | Intermediate | Minor | - | Major | Intermediate | Major |
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 | 79.99 | 81.04 | 81.63 | 82.68 | 83.27 | 84.32 | 84.91 |
| Camarilla | 81.76 | 81.91 | 82.06 | 82.21 | 82.36 | 82.51 | 82.66 |
| Woodie | 79.75 | 80.93 | 81.39 | 82.57 | 83.03 | 84.21 | 84.67 |
| Fibonacci | 81.04 | 81.67 | 82.06 | 82.68 | 83.31 | 83.70 | 84.32 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.84 | 79.32 | 80.77 | 82.25 | 83.70 | 85.18 | 86.63 |
| Camarilla | 81.40 | 81.67 | 81.94 | 82.21 | 82.48 | 82.75 | 83.02 |
| Woodie | 77.82 | 79.31 | 80.75 | 82.24 | 83.68 | 85.17 | 86.61 |
| Fibonacci | 79.32 | 80.44 | 81.13 | 82.25 | 83.37 | 84.06 | 85.18 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.63 | 67.69 | 75.53 | 79.59 | 87.43 | 91.49 | 99.33 |
| Camarilla | 80.11 | 81.20 | 82.29 | 83.38 | 84.47 | 85.56 | 86.65 |
| Woodie | 65.53 | 68.64 | 77.43 | 80.54 | 89.33 | 92.44 | 101.23 |
| Fibonacci | 67.69 | 72.23 | 75.04 | 79.59 | 84.13 | 86.94 | 91.49 |
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): | 44.43 | |
| MACD (12,26,9): | -0.1500 | |
| Directional Movement: | -7.89 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 82.34 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.64 | |
| Elder Ray (13): | -0.06 | |
| Super Trend (3,10): | 83.16 | |
| Zig ZAG (10): | 82.29 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 41.04 | |
| TEMA (21): | 82.16 | |
| Williams %R (14): | -57.74 | |
| Chande Momentum Oscillator (20): | -0.55 | |
| Repulse (5,40,3): | 0.0100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 1.66 |
| MA7: | 82.30 | |
| MA20: | 82.02 | |
| MA50: | 79.01 | |
| MA100: | 79.26 | |
| MAexp7: | 82.33 | |
| MAexp20: | 82.52 | |
| MAexp50: | 82.58 | |
| MAexp100: | 82.55 | |
| Price / MA7: | -0.02% | |
| Price / MA20: | +0.32% | |
| Price / MA50: | +4.14% | |
| Price / MA100: | +3.81% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | -0.29% | |
| Price / MAexp50: | -0.36% | |
| Price / MAexp100: | -0.33% |
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: 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
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Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
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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.
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