WTI CRUDE OIL - 15 min. - Technical analysis published on 07/23/2024 (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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
61%
28%
My opinion
Bearish under 78.36 USD
My targets
77.59 USD (-0.58%)
76.78 USD (-1.61%)
My analysis
The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 78.36 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 77.59 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 76.78 USD as an objective. Crossing it would then enable sellers to target 76.01 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
0
10
7
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Additional analysis
Quotes
WTI CRUDE OIL rating 78.04 USD. The price is lower by -0.46% since the last closing and was between 77.92 USD and 78.73 USD. This implies that the price is at +0.15% from its lowest and at -0.88% from its highest.77.92
78.73
78.04
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 15 minutes
In fact, 11 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of these bearish patterns in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term were also noted
Bearish harami
Type : Bearish
Timeframe : 15 minutes
Bearish harami cross
Type : Bearish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 72.48 | 75.27 | 77.42 | 78.04 | 78.65 | 80.05 | 81.06 |
Change (%) | -7.12% | -3.55% | -0.79% | - | +0.78% | +2.58% | +3.87% |
Change | -5.56 | -2.77 | -0.62 | - | +0.61 | +2.01 | +3.02 |
Level | Intermediate | Minor | Major | - | Minor | Minor | 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 | 76.01 | 76.78 | 77.59 | 78.36 | 79.17 | 79.94 | 80.75 |
Camarilla | 77.97 | 78.11 | 78.26 | 78.40 | 78.55 | 78.69 | 78.84 |
Woodie | 76.03 | 76.79 | 77.61 | 78.37 | 79.19 | 79.95 | 80.77 |
Fibonacci | 76.78 | 77.38 | 77.76 | 78.36 | 78.96 | 79.34 | 79.94 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 73.74 | 76.17 | 77.40 | 79.83 | 81.06 | 83.49 | 84.72 |
Camarilla | 77.63 | 77.97 | 78.31 | 78.64 | 78.98 | 79.31 | 79.65 |
Woodie | 73.15 | 75.87 | 76.81 | 79.53 | 80.47 | 83.19 | 84.13 |
Fibonacci | 76.17 | 77.57 | 78.43 | 79.83 | 81.23 | 82.09 | 83.49 |
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 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): | 38.02 | |
MACD (12,26,9): | -0.0800 | |
Directional Movement: | -17.03 | |
AROON (14): | -92.86 | |
DEMA (21): | 78.23 | |
Parabolic SAR (0,02-0,02-0,2): | 78.48 | |
Elder Ray (13): | -0.27 | |
Super Trend (3,10): | 78.47 | |
Zig ZAG (10): | 78.07 | |
VORTEX (21): | 0.8700 | |
Stochastique (14,3,5): | 9.58 | |
TEMA (21): | 78.15 | |
Williams %R (14): | -79.01 | |
Chande Momentum Oscillator (20): | -0.35 | |
Repulse (5,40,3): | -0.0300 | |
ROCnROLL: | 2 | |
TRIX (15,9): | 0.0000 | |
Courbe Coppock: | 0.75 |
MA7: | 79.60 | |
MA20: | 80.44 | |
MA50: | 77.86 | |
MA100: | 78.01 | |
MAexp7: | 78.17 | |
MAexp20: | 78.31 | |
MAexp50: | 78.36 | |
MAexp100: | 78.49 | |
Price / MA7: | -1.96% | |
Price / MA20: | -2.98% | |
Price / MA50: | +0.23% | |
Price / MA100: | +0.04% | |
Price / MAexp7: | -0.17% | |
Price / MAexp20: | -0.34% | |
Price / MAexp50: | -0.41% | |
Price / MAexp100: | -0.57% |
Quotes :
-
10 min delayed data
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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…
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