WTI CRUDE OIL - 15 min. - Technical analysis published on 08/01/2024 (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:
Strongly bullish
Technical indicators
50%
6%
44%
My opinion
Bullish above 77.49 USD
My targets
79.81 USD (+1.45%)
80.97 USD (+2.93%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 77.49 USD. The buyers' bullish objective is set at 79.81 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 80.97 USD. If there is any crossing, the next objective would be the resistance located at 83.29 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
7.5
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Additional analysis
Quotes
The WTI CRUDE OIL price is 78.67 USD. The price has increased by +0.98% since the last closing with the lowest point at 78.42 USD and the highest point at 78.74 USD. The deviation from the price is +0.32% for the low point and -0.09% for the high point.78.42
78.74
78.67
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
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.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish engulfing lines
Type : Bullish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 76.40 | 77.54 | 78.38 | 78.67 | 79.13 | 81.21 | 82.98 |
| Change (%) | -2.89% | -1.44% | -0.37% | - | +0.58% | +3.23% | +5.48% |
| Change | -2.27 | -1.13 | -0.29 | - | +0.46 | +2.54 | +4.31 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.85 | 74.01 | 76.33 | 77.49 | 79.81 | 80.97 | 83.29 |
| Camarilla | 77.68 | 78.00 | 78.32 | 78.64 | 78.96 | 79.28 | 79.60 |
| Woodie | 73.42 | 74.30 | 76.90 | 77.78 | 80.38 | 81.26 | 83.86 |
| Fibonacci | 74.01 | 75.34 | 76.16 | 77.49 | 78.82 | 79.64 | 80.97 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.67 | 74.35 | 75.76 | 77.44 | 78.85 | 80.53 | 81.94 |
| Camarilla | 76.31 | 76.59 | 76.88 | 77.16 | 77.44 | 77.73 | 78.01 |
| Woodie | 72.53 | 74.28 | 75.62 | 77.37 | 78.71 | 80.46 | 81.80 |
| Fibonacci | 74.35 | 75.53 | 76.26 | 77.44 | 78.62 | 79.35 | 80.53 |
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): | 69.01 | |
| MACD (12,26,9): | 0.2000 | |
| Directional Movement: | 19.73 | |
| AROON (14): | 0 | |
| DEMA (21): | 78.74 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.74 | |
| Elder Ray (13): | 0.07 | |
| Super Trend (3,10): | 78.23 | |
| Zig ZAG (10): | 78.68 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 69.24 | |
| TEMA (21): | 78.69 | |
| Williams %R (14): | -21.88 | |
| Chande Momentum Oscillator (20): | 0.14 | |
| Repulse (5,40,3): | 0.2600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 0.30 |
| MA7: | 77.27 | |
| MA20: | 79.07 | |
| MA50: | 78.01 | |
| MA100: | 78.23 | |
| MAexp7: | 78.64 | |
| MAexp20: | 78.45 | |
| MAexp50: | 77.94 | |
| MAexp100: | 77.30 | |
| Price / MA7: | +1.81% | |
| Price / MA20: | -0.51% | |
| Price / MA50: | +0.85% | |
| Price / MA100: | +0.56% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.28% | |
| Price / MAexp50: | +0.94% | |
| Price / MAexp100: | +1.77% |
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:
-
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
-
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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