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 - 15 min. - Technical analysis published on 08/30/2024 (GMT)

Londinia

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Timeframe : 15 min.
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

44%

39%

My opinion

Bearish under 74.01 USD

My targets

72.76 USD (-1.27%)

71.48 USD (-3.02%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 74.01 USD. The sellers' bearish objective is set at 72.76 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 71.48 USD. In case of crossing, the next objective would be the support located at 69.83 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

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 CREAM89. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 73.70 USD. On the day, this instrument lost -2.91% and was between 73.52 USD and 76.59 USD. This implies that the price is at +0.24% from its lowest and at -3.77% from its highest.

73.52

76.59

73.70

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:

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 15 min. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, only 8 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : 15 minutes

RSI indicator: bullish divergence

Type : Bullish

Timeframe : 15 minutes

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 15 minutes

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:

Doji

Type : Neutral

Timeframe : 15 minutes

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	69.83	71.88	72.87	73.70	74.28	75.43	76.33
Change (%)	-5.25%	-2.47%	-1.13%	-	+0.79%	+2.35%	+3.57%
Change	-3.87	-1.82	-0.83	-	+0.58	+1.73	+2.63
Level	Intermediate	Major	Intermediate	-	Intermediate	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	71.48	72.76	74.34	75.62	77.20	78.48	80.06
Camarilla	75.12	75.39	75.65	75.91	76.17	76.43	76.70
Woodie	71.62	72.84	74.48	75.70	77.34	78.56	80.20
Fibonacci	72.76	73.86	74.53	75.62	76.72	77.39	78.48

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 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):	28.82
MACD (12,26,9):	-0.5000
Directional Movement:	-24.61
AROON (14):	-21.43
DEMA (21):	73.66
Parabolic SAR (0,02-0,02-0,2):	74.65
Elder Ray (13):	-0.37
Super Trend (3,10):	74.66
Zig ZAG (10):	73.77
VORTEX (21):	0.7700
Stochastique (14,3,5):	22.04
TEMA (21):	73.49
Williams %R (14):	-78.21
Chande Momentum Oscillator (20):	-0.22
Repulse (5,40,3):	-0.2400
ROCnROLL:	2
TRIX (15,9):	-0.1000
Courbe Coppock:	2.28

MA7:	74.99
MA20:	74.86
MA50:	76.85
MA100:	76.31
MAexp7:	73.83
MAexp20:	74.32
MAexp50:	75.02
MAexp100:	75.32
Price / MA7:	-1.72%
Price / MA20:	-1.55%
Price / MA50:	-4.10%
Price / MA100:	-3.42%
Price / MAexp7:	-0.18%
Price / MAexp20:	-0.83%
Price / MAexp50:	-1.76%
Price / MAexp100:	-2.15%

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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