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:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 70.91 USD
My targets
69.89 USD (-0.61%)
68.60 USD (-2.45%)
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 70.91 USD. The sellers' bearish objective is set at 69.89 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 68.60 USD. In case of crossing, the next objective would be the support located at 67.58 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7
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Additional analysis
Quotes
The WTI CRUDE OIL price is 70.32 USD. The price registered a decrease of -1.22% on the session and was traded between 70.14 USD and 71.21 USD over the period. The price is currently at +0.26% from its lowest and -1.25% from its highest.70.14
71.21
70.32
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:
Technical
Technical analysis of WTI CRUDE OIL in 15 min. shows a overall strongly bearish trend. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 12 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 68.78 | 69.83 | 70.32 | 70.70 | 71.89 | 74.28 |
| Change (%) | -4.48% | -2.19% | -0.70% | - | +0.54% | +2.23% | +5.63% |
| Change | -3.15 | -1.54 | -0.49 | - | +0.38 | +1.57 | +3.96 |
| Level | Minor | Intermediate | Intermediate | - | Minor | 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 | 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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 33.03 | |
| MACD (12,26,9): | -0.1100 | |
| Directional Movement: | -19.71 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 70.57 | |
| Parabolic SAR (0,02-0,02-0,2): | 70.81 | |
| Elder Ray (13): | -0.19 | |
| Super Trend (3,10): | 70.89 | |
| Zig ZAG (10): | 70.40 | |
| VORTEX (21): | 0.7900 | |
| Stochastique (14,3,5): | 12.84 | |
| TEMA (21): | 70.51 | |
| Williams %R (14): | -100.00 | |
| Chande Momentum Oscillator (20): | -0.35 | |
| Repulse (5,40,3): | -0.4600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.77 |
| MA7: | 68.93 | |
| MA20: | 71.32 | |
| MA50: | 74.18 | |
| MA100: | 75.10 | |
| MAexp7: | 70.52 | |
| MAexp20: | 70.71 | |
| MAexp50: | 70.84 | |
| MAexp100: | 70.76 | |
| Price / MA7: | +2.02% | |
| Price / MA20: | -1.40% | |
| Price / MA50: | -5.20% | |
| Price / MA100: | -6.36% | |
| Price / MAexp7: | -0.28% | |
| Price / MAexp20: | -0.55% | |
| Price / MAexp50: | -0.73% | |
| Price / MAexp100: | -0.62% |
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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