WTI CRUDE OIL - 15 min. - Technical analysis published on 07/24/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 77.36 USD
My targets
78.33 USD (+0.91%)
79.69 USD (+2.67%)
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 77.36 USD, a purchase could be considered. The first bullish objective is located at 78.33 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 79.69 USD as an objective. Crossing it would then enable buyers to target 80.66 USD. In the event of a return below 77.36 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.7
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 77.62 USD. The price has increased by +0.86% since the last closing with the lowest point at 77.08 USD and the highest point at 77.72 USD. The deviation from the price is +0.70% for the low point and -0.13% for the high point.77.08
77.72
77.62
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
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
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a bullish trend. 71.43% 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 technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 75.27 | 76.40 | 77.42 | 77.62 | 78.69 | 80.05 | 81.14 |
| Change (%) | -3.03% | -1.57% | -0.26% | - | +1.38% | +3.13% | +4.53% |
| Change | -2.35 | -1.22 | -0.20 | - | +1.07 | +2.43 | +3.52 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Minor | Minor |
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 | 73.67 | 75.03 | 76.00 | 77.36 | 78.33 | 79.69 | 80.66 |
| Camarilla | 76.32 | 76.53 | 76.75 | 76.96 | 77.17 | 77.39 | 77.60 |
| Woodie | 73.47 | 74.93 | 75.80 | 77.26 | 78.13 | 79.59 | 80.46 |
| Fibonacci | 75.03 | 75.92 | 76.47 | 77.36 | 78.25 | 78.80 | 79.69 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 61.42 | |
| MACD (12,26,9): | 0.0900 | |
| Directional Movement: | 6.80 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 77.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 77.40 | |
| Elder Ray (13): | 0.10 | |
| Super Trend (3,10): | 77.24 | |
| Zig ZAG (10): | 77.66 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 77.75 | |
| TEMA (21): | 77.63 | |
| Williams %R (14): | -9.43 | |
| Chande Momentum Oscillator (20): | 0.30 | |
| Repulse (5,40,3): | 0.1300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.66 |
| MA7: | 79.05 | |
| MA20: | 80.31 | |
| MA50: | 77.88 | |
| MA100: | 78.04 | |
| MAexp7: | 77.57 | |
| MAexp20: | 77.47 | |
| MAexp50: | 77.40 | |
| MAexp100: | 77.52 | |
| Price / MA7: | -1.81% | |
| Price / MA20: | -3.35% | |
| Price / MA50: | -0.33% | |
| Price / MA100: | -0.54% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.19% | |
| Price / MAexp50: | +0.28% | |
| Price / MAexp100: | +0.13% |
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
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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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