WTI CRUDE OIL - 15 min. - Technical analysis published on 08/28/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
78%
0%
22%
My opinion
Bullish above 74.79 USD
My targets
76.14 USD (+1.41%)
76.87 USD (+2.39%)
My analysis
The strong short-term increase in WTI CRUDE OIL calls into question the currently slightly bearish basic trend. A trend reversal is likely. As long as the price remains above 74.79 USD, you could consider taking advantage of the short-term movement. The first bullish objective is located at 76.14 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 76.87 USD as an objective. Crossing it would then enable buyers to target 78.22 USD. Caution, a return under 74.79 USD could jeopardize the reversal.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
2.9
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This analysis was given by euletthomas. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL price is 75.08 USD. The price is lower by -0.60% since the last closing and was between 73.82 USD and 75.95 USD. This implies that the price is at +1.71% from its lowest and at -1.15% from its highest.73.82
75.95
75.08
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
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows an overall slightly bearish trend. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 15 minutes
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 15 minutes
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 15 minutes
In fact, 14 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Momentum indicator is back under 0
Type : Bearish
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 71.88 | 72.87 | 74.28 | 75.08 | 75.73 | 76.33 | 76.88 |
| Change (%) | -4.26% | -2.94% | -1.07% | - | +0.87% | +1.66% | +2.40% |
| Change | -3.20 | -2.21 | -0.80 | - | +0.65 | +1.25 | +1.80 |
| Level | Major | Minor | Intermediate | - | Minor | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.71 | 74.06 | 74.79 | 76.14 | 76.87 | 78.22 | 78.95 |
| Camarilla | 74.96 | 75.15 | 75.34 | 75.53 | 75.72 | 75.91 | 76.10 |
| Woodie | 72.41 | 73.91 | 74.49 | 75.99 | 76.57 | 78.07 | 78.65 |
| Fibonacci | 74.06 | 74.85 | 75.34 | 76.14 | 76.93 | 77.42 | 78.22 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 68.01 | 69.74 | 72.28 | 74.01 | 76.55 | 78.28 | 80.82 |
| Camarilla | 73.66 | 74.05 | 74.44 | 74.83 | 75.22 | 75.61 | 76.00 |
| Woodie | 68.43 | 69.94 | 72.70 | 74.21 | 76.97 | 78.48 | 81.24 |
| Fibonacci | 69.74 | 71.37 | 72.38 | 74.01 | 75.64 | 76.65 | 78.28 |
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): | 57.06 | |
| MACD (12,26,9): | -0.0600 | |
| Directional Movement: | 3.71 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 74.53 | |
| Parabolic SAR (0,02-0,02-0,2): | 74.04 | |
| Elder Ray (13): | 0.22 | |
| Super Trend (3,10): | 74.11 | |
| Zig ZAG (10): | 75.12 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 62.97 | |
| TEMA (21): | 74.66 | |
| Williams %R (14): | -4.50 | |
| Chande Momentum Oscillator (20): | 0.71 | |
| Repulse (5,40,3): | 1.0900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 1.14 |
| MA7: | 74.43 | |
| MA20: | 74.78 | |
| MA50: | 77.00 | |
| MA100: | 76.42 | |
| MAexp7: | 74.71 | |
| MAexp20: | 74.65 | |
| MAexp50: | 74.94 | |
| MAexp100: | 75.35 | |
| Price / MA7: | +0.87% | |
| Price / MA20: | +0.40% | |
| Price / MA50: | -2.49% | |
| Price / MA100: | -1.75% | |
| Price / MAexp7: | +0.51% | |
| Price / MAexp20: | +0.59% | |
| Price / MAexp50: | +0.20% | |
| Price / MAexp100: | -0.35% |
Quotes :
-
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:
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WTI Crude Oil Forecast August 27, 2024
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WTI Crude Oil Forecast August 26, 2024
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WTI Crude Oil Forecast August 16, 2024
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WTI Crude Oil Forecast August 9, 2024
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WTI Crude Oil Forecast August 8, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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