WTI CRUDE OIL - 15 min. - Technical analysis published on 09/16/2024 (GMT)
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- Timeframe : 15 min.
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 69.15 USD
My targets
69.82 USD (+0.49%)
71.00 USD (+2.18%)
My analysis
The short-term increase currently reinforces the basic trend, which is only slightly bullish. It would be possible for traders to only trade long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 69.15 USD. The buyers' bullish objective is set at 69.82 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 71.00 USD. If there is any crossing, the next objective would be the resistance located at 71.67 USD.
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
5.9
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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 rating is 69.48 USD. The price has increased by +1.21% since the last closing with the lowest point at 68.65 USD and the highest point at 69.56 USD. The deviation from the price is +1.21% for the low point and -0.12% for the high point.68.65
69.56
69.48
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
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a slightly bullish trend. 60.71% of the signals given by moving averages are bullish. The overall trend could accelerate as strong bullish signals from short-term moving averages are expected. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 15 minutes
In fact, according to the parameters integrated into the Central Analyzer system, 17 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 67.17 | 67.95 | 68.80 | 69.48 | 69.80 | 70.82 | 71.91 |
| Change (%) | -3.32% | -2.20% | -0.98% | - | +0.46% | +1.93% | +3.50% |
| Change | -2.31 | -1.53 | -0.68 | - | +0.32 | +1.34 | +2.43 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Major |
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 | 66.12 | 67.30 | 67.97 | 69.15 | 69.82 | 71.00 | 71.67 |
| Camarilla | 68.14 | 68.31 | 68.48 | 68.65 | 68.82 | 68.99 | 69.16 |
| Woodie | 65.88 | 67.17 | 67.73 | 69.02 | 69.58 | 70.87 | 71.43 |
| Fibonacci | 67.30 | 68.00 | 68.44 | 69.15 | 69.85 | 70.29 | 71.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.79 | 63.03 | 65.84 | 68.08 | 70.89 | 73.13 | 75.94 |
| Camarilla | 67.26 | 67.72 | 68.19 | 68.65 | 69.11 | 69.58 | 70.04 |
| Woodie | 61.08 | 63.17 | 66.13 | 68.22 | 71.18 | 73.27 | 76.23 |
| Fibonacci | 63.03 | 64.96 | 66.15 | 68.08 | 70.01 | 71.20 | 73.13 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.23 | 65.90 | 69.72 | 74.39 | 78.21 | 82.88 | 86.70 |
| Camarilla | 71.22 | 71.99 | 72.77 | 73.55 | 74.33 | 75.11 | 75.89 |
| Woodie | 60.82 | 65.69 | 69.31 | 74.18 | 77.80 | 82.67 | 86.29 |
| Fibonacci | 65.90 | 69.14 | 71.14 | 74.39 | 77.63 | 79.63 | 82.88 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 72.54 | |
| MACD (12,26,9): | 0.0600 | |
| Directional Movement: | 23.52 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 69.00 | |
| Parabolic SAR (0,02-0,02-0,2): | 68.78 | |
| Elder Ray (13): | 0.22 | |
| Super Trend (3,10): | 68.91 | |
| Zig ZAG (10): | 69.25 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 96.83 | |
| TEMA (21): | 69.11 | |
| Williams %R (14): | -6.35 | |
| Chande Momentum Oscillator (20): | 0.55 | |
| Repulse (5,40,3): | 0.4200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.98 |
| MA7: | 68.04 | |
| MA20: | 71.44 | |
| MA50: | 74.49 | |
| MA100: | 75.21 | |
| MAexp7: | 69.13 | |
| MAexp20: | 68.95 | |
| MAexp50: | 68.99 | |
| MAexp100: | 69.03 | |
| Price / MA7: | +2.12% | |
| Price / MA20: | -2.74% | |
| Price / MA50: | -6.73% | |
| Price / MA100: | -7.62% | |
| Price / MAexp7: | +0.51% | |
| Price / MAexp20: | +0.77% | |
| Price / MAexp50: | +0.71% | |
| Price / MAexp100: | +0.65% |
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:
-
WTI Crude Oil Forecast September 4, 2024
-
WTI Crude Oil Forecast August 30, 2024
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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
This member declared not having a position on this financial instrument or a related financial instrument.
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