WTI CRUDE OIL - 15 min. - Technical analysis published on 07/19/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 81.32 USD
My targets
80.40 USD (-0.47%)
79.54 USD (-1.53%)
My analysis
There is a bearish trend on WTI CRUDE OIL both at the basic level and in the short term. A sale could be considered, so long as the price remains below 81.32 USD. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 80.40 USD. Then the price could move towards 79.54 USD. Then 78.62 USD by extension. Be careful, a return to above the resistance 81.32 USD would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
6.4
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Additional analysis
Quotes
WTI CRUDE OIL rating 80.78 USD. On the day, this instrument lost -0.57% and was between 80.19 USD and 81.34 USD. This implies that the price is at +0.74% from its lowest and at -0.69% from its highest.80.19
81.34
80.78
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a bearish trend. The signals given by moving averages are at 78.57% bearish. This bearish trend shows slight signs of slowing down given the slightly bearish signals of short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 15 minutes
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 15 minutes
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 15 minutes
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 15 minutes
An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 1
Type : Neutral
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 78.65 | 79.24 | 80.47 | 80.78 | 81.06 | 82.25 | 82.98 |
| Change (%) | -2.64% | -1.91% | -0.38% | - | +0.35% | +1.82% | +2.72% |
| Change | -2.13 | -1.54 | -0.31 | - | +0.28 | +1.47 | +2.20 |
| Level | Intermediate | Minor | 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 | 78.62 | 79.54 | 80.40 | 81.32 | 82.18 | 83.10 | 83.96 |
| Camarilla | 80.76 | 80.92 | 81.09 | 81.25 | 81.41 | 81.58 | 81.74 |
| Woodie | 78.58 | 79.53 | 80.36 | 81.31 | 82.14 | 83.09 | 83.92 |
| Fibonacci | 79.54 | 80.22 | 80.64 | 81.32 | 82.00 | 82.42 | 83.10 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 76.27 | 77.75 | 79.20 | 80.68 | 82.13 | 83.61 | 85.06 |
| Camarilla | 79.83 | 80.10 | 80.37 | 80.64 | 80.91 | 81.18 | 81.45 |
| Woodie | 76.25 | 77.74 | 79.18 | 80.67 | 82.11 | 83.60 | 85.04 |
| Fibonacci | 77.75 | 78.87 | 79.56 | 80.68 | 81.80 | 82.49 | 83.61 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.06 | 66.12 | 73.96 | 78.02 | 85.86 | 89.92 | 97.76 |
| Camarilla | 78.54 | 79.63 | 80.72 | 81.81 | 82.90 | 83.99 | 85.08 |
| Woodie | 63.96 | 67.07 | 75.86 | 78.97 | 87.76 | 90.87 | 99.66 |
| Fibonacci | 66.12 | 70.66 | 73.47 | 78.02 | 82.56 | 85.37 | 89.92 |
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): | 31.49 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | -21.00 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 80.90 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.20 | |
| Elder Ray (13): | -0.43 | |
| Super Trend (3,10): | 81.12 | |
| Zig ZAG (10): | 80.32 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 30.31 | |
| TEMA (21): | 80.81 | |
| Williams %R (14): | -89.11 | |
| Chande Momentum Oscillator (20): | -0.72 | |
| Repulse (5,40,3): | -0.9400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.91 |
| MA7: | 80.61 | |
| MA20: | 80.67 | |
| MA50: | 77.80 | |
| MA100: | 77.96 | |
| MAexp7: | 80.70 | |
| MAexp20: | 80.92 | |
| MAexp50: | 80.92 | |
| MAexp100: | 80.93 | |
| Price / MA7: | +0.21% | |
| Price / MA20: | +0.14% | |
| Price / MA50: | +3.83% | |
| Price / MA100: | +3.62% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | -0.17% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.19% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were 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.
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