WTI CRUDE OIL - 15 min. - Technical analysis published on 09/18/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
28%
44%
28%
My opinion
Bearish under 70.91 USD
My targets
69.89 USD (-1.11%)
68.60 USD (-2.95%)
My analysis
In the short term, we can see an acceleration in the bearish trend on WTI CRUDE OIL, which is a positive signal for sellers. As long as the price remains above 70.91 USD, a sale could be considered. The first bearish objective is located at 69.89 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 68.60 USD as an objective. Crossing it would then enable sellers to target 67.58 USD. If the price were to return above 70.91 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
4.1
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This analysis was given by shmoot000. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 70.68 USD. The price is lower by -0.72% since the last closing and was between 70.55 USD and 71.21 USD. This implies that the price is at +0.18% from its lowest and at -0.74% from its highest.70.55
71.21
70.68
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a bearish trend. The signals given by moving averages are 67.86% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 5 are neutral and 8 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 67.17 | 68.78 | 69.83 | 70.68 | 70.70 | 71.89 | 74.28 |
| Change (%) | -4.97% | -2.69% | -1.20% | - | +0.03% | +1.71% | +5.09% |
| Change | -3.51 | -1.90 | -0.85 | - | +0.02 | +1.21 | +3.60 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.58 | 68.60 | 69.89 | 70.91 | 72.20 | 73.22 | 74.51 |
| Camarilla | 70.56 | 70.77 | 70.98 | 71.19 | 71.40 | 71.61 | 71.83 |
| Woodie | 67.73 | 68.67 | 70.04 | 70.98 | 72.35 | 73.29 | 74.66 |
| Fibonacci | 68.60 | 69.48 | 70.02 | 70.91 | 71.79 | 72.33 | 73.22 |
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): | 29.76 | |
| MACD (12,26,9): | -0.0900 | |
| Directional Movement: | -29.34 | |
| AROON (14): | -57.15 | |
| DEMA (21): | 70.74 | |
| Parabolic SAR (0,02-0,02-0,2): | 70.91 | |
| Elder Ray (13): | -0.15 | |
| Super Trend (3,10): | 70.92 | |
| Zig ZAG (10): | 70.66 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 26.00 | |
| TEMA (21): | 70.70 | |
| Williams %R (14): | -57.50 | |
| Chande Momentum Oscillator (20): | -0.15 | |
| Repulse (5,40,3): | 0.0600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.39 |
| MA7: | 68.96 | |
| MA20: | 71.33 | |
| MA50: | 74.18 | |
| MA100: | 75.10 | |
| MAexp7: | 70.76 | |
| MAexp20: | 70.86 | |
| MAexp50: | 70.93 | |
| MAexp100: | 70.80 | |
| Price / MA7: | +2.49% | |
| Price / MA20: | -0.91% | |
| Price / MA50: | -4.72% | |
| Price / MA100: | -5.89% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.25% | |
| Price / MAexp50: | -0.35% | |
| Price / MAexp100: | -0.17% |
Quotes :
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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 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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