WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	WBS
ISIN:

WTI CRUDE OIL - 1H - Technical analysis published on 08/19/2024 (GMT)

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Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

22%

44%

33%

My opinion

Bearish under 74.28 USD

My targets

73.49 USD (-0.49%)

71.90 USD (-2.64%)

My analysis

The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 74.28 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 73.49 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 71.90 USD as an objective. Crossing it would then enable sellers to target 64.62 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 not called into question, despite technical indicators being neutral.

Force

6.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Noli1949. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 73.85 USD. On the day, this instrument lost -2.24% and was between 73.45 USD and 75.73 USD. This implies that the price is at +0.54% from its lowest and at -2.48% from its highest.

73.45

75.73

73.85

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

Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this WTI CRUDE OIL chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

On the 18 technical indicators analysed, 4 are bullish, 6 are neutral and 8 are bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	64.62	71.90	73.49	73.85	74.28	75.72	77.66
Change (%)	-12.50%	-2.64%	-0.49%	-	+0.58%	+2.53%	+5.16%
Change	-9.23	-1.95	-0.36	-	+0.43	+1.87	+3.81
Level	Major	Major	Minor	-	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	71.68	73.05	74.30	75.67	76.92	78.29	79.54
Camarilla	74.82	75.06	75.30	75.54	75.78	76.02	76.26
Woodie	71.61	73.02	74.23	75.64	76.85	78.26	79.47
Fibonacci	73.05	74.05	74.67	75.67	76.67	77.29	78.29

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	69.01	71.72	73.63	76.34	78.25	80.96	82.87
Camarilla	74.27	74.69	75.12	75.54	75.96	76.39	76.81
Woodie	68.61	71.52	73.23	76.14	77.85	80.76	82.47
Fibonacci	71.72	73.49	74.58	76.34	78.11	79.20	80.96

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	63.48	68.48	71.84	76.84	80.20	85.20	88.56
Camarilla	72.90	73.67	74.43	75.20	75.97	76.73	77.50
Woodie	62.66	68.07	71.02	76.43	79.38	84.79	87.74
Fibonacci	68.48	71.67	73.65	76.84	80.03	82.01	85.20

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):	31.93
MACD (12,26,9):	-0.4900
Directional Movement:	-16.20
AROON (14):	-28.57
DEMA (21):	74.06
Parabolic SAR (0,02-0,02-0,2):	75.43
Elder Ray (13):	-0.60
Super Trend (3,10):	75.17
Zig ZAG (10):	73.83
VORTEX (21):	0.8500
Stochastique (14,3,5):	14.62
TEMA (21):	73.86
Williams %R (14):	-83.77
Chande Momentum Oscillator (20):	-1.34
Repulse (5,40,3):	-0.3200
ROCnROLL:	2
TRIX (15,9):	-0.0700
Courbe Coppock:	2.93

MA7:	76.32
MA20:	75.28
MA50:	77.24
MA100:	76.88
MAexp7:	74.07
MAexp20:	74.66
MAexp50:	75.35
MAexp100:	75.76
Price / MA7:	-3.24%
Price / MA20:	-1.90%
Price / MA50:	-4.39%
Price / MA100:	-3.94%
Price / MAexp7:	-0.30%
Price / MAexp20:	-1.08%
Price / MAexp50:	-1.99%
Price / MAexp100:	-2.52%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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