WTI CRUDE OIL - 15 min. - Technical analysis published on 09/17/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
67%
0%
33%
My opinion
Bullish above 69.81 USD
My targets
70.98 USD (+0.38%)
71.86 USD (+1.63%)
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 69.81 USD. The buyers' bullish objective is set at 70.98 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 71.86 USD. If there is any crossing, the next objective would be the resistance located at 73.03 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
5.7
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 70.71 USD. On the day, this instrument gained +0.89% and was between 69.61 USD and 70.83 USD. This implies that the price is at +1.58% from its lowest and at -0.17% from its highest.69.61
70.83
70.71
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is bullish. 67.86% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 15 minutes
In fact, 12 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 15 minutes
MACD indicator is back over 0
Type : Bullish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bearish harami
Type : Bearish
Timeframe : 15 minutes
Doji
Type : Neutral
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 67.17 | 68.79 | 69.83 | 70.71 | 70.82 | 71.89 | 74.28 |
| Change (%) | -5.01% | -2.72% | -1.24% | - | +0.16% | +1.67% | +5.05% |
| Change | -3.54 | -1.92 | -0.88 | - | +0.11 | +1.18 | +3.57 |
| Level | Minor | Major | Major | - | Major | Major | Minor |
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 | 66.88 | 67.76 | 68.93 | 69.81 | 70.98 | 71.86 | 73.03 |
| Camarilla | 69.53 | 69.71 | 69.90 | 70.09 | 70.28 | 70.47 | 70.65 |
| Woodie | 67.02 | 67.83 | 69.07 | 69.88 | 71.12 | 71.93 | 73.17 |
| Fibonacci | 67.76 | 68.55 | 69.03 | 69.81 | 70.60 | 71.08 | 71.86 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.12 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | 0.75 | |
| AROON (14): | 57.15 | |
| DEMA (21): | 70.16 | |
| Parabolic SAR (0,02-0,02-0,2): | 70.51 | |
| Elder Ray (13): | 0.06 | |
| Super Trend (3,10): | 69.84 | |
| Zig ZAG (10): | 70.31 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 77.17 | |
| TEMA (21): | 70.22 | |
| Williams %R (14): | -22.83 | |
| Chande Momentum Oscillator (20): | 0.40 | |
| Repulse (5,40,3): | 0.4300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.72 |
| MA7: | 68.54 | |
| MA20: | 71.34 | |
| MA50: | 74.34 | |
| MA100: | 75.14 | |
| MAexp7: | 70.34 | |
| MAexp20: | 70.22 | |
| MAexp50: | 70.26 | |
| MAexp100: | 70.14 | |
| Price / MA7: | +3.17% | |
| Price / MA20: | -0.88% | |
| Price / MA50: | -4.88% | |
| Price / MA100: | -5.90% | |
| Price / MAexp7: | +0.53% | |
| Price / MAexp20: | +0.70% | |
| Price / MAexp50: | +0.64% | |
| Price / MAexp100: | +0.81% |
Quotes :
-
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:
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WTI Crude Oil Forecast September 4, 2024
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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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