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
6%
78%
17%
My opinion
Bearish under 78.36 USD
My targets
76.78 USD (-0.99%)
76.01 USD (-1.99%)
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 76.78 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 76.01 USD as an objective. Crossing it would then enable sellers to target 75.27 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.
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
8
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Additional analysis
Quotes
The WTI CRUDE OIL price is 77.55 USD. The price registered a decrease of -1.08% on the session and was between 77.43 USD and 78.73 USD. This implies that the price is at +0.15% from its lowest and at -1.50% from its highest.77.43
78.73
77.55
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 15 minutes
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
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 | 72.48 | 75.27 | 77.42 | 77.55 | 78.65 | 80.05 | 81.06 |
| Change (%) | -6.54% | -2.94% | -0.17% | - | +1.42% | +3.22% | +4.53% |
| Change | -5.07 | -2.28 | -0.13 | - | +1.10 | +2.50 | +3.51 |
| 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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 30.62 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | -24.77 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 77.98 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.20 | |
| Elder Ray (13): | -0.33 | |
| Super Trend (3,10): | 78.20 | |
| Zig ZAG (10): | 77.65 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 2.74 | |
| TEMA (21): | 77.83 | |
| Williams %R (14): | -97.14 | |
| Chande Momentum Oscillator (20): | -0.91 | |
| Repulse (5,40,3): | -0.3900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 1.73 |
| MA7: | 79.51 | |
| MA20: | 80.42 | |
| MA50: | 77.85 | |
| MA100: | 78.01 | |
| MAexp7: | 77.85 | |
| MAexp20: | 78.15 | |
| MAexp50: | 78.28 | |
| MAexp100: | 78.44 | |
| Price / MA7: | -2.47% | |
| Price / MA20: | -3.57% | |
| Price / MA50: | -0.39% | |
| Price / MA100: | -0.59% | |
| Price / MAexp7: | -0.39% | |
| Price / MAexp20: | -0.77% | |
| Price / MAexp50: | -0.93% | |
| Price / MAexp100: | -1.13% |
Quotes :
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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:
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Technical Analysis: 04/04/2024 - WTI futures surge to a 5-month high
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Technical Analysis: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
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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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