WTI CRUDE OIL - 15 min. - Technical analysis published on 09/18/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
44%
22%
My opinion
Bearish under 70.91 USD
My targets
69.89 USD (-0.54%)
68.60 USD (-2.38%)
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 are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.4
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Additional analysis
Quotes
WTI CRUDE OIL rating 70.27 USD. The price is lower by -1.29% since the last closing and was traded between 69.73 USD and 71.21 USD over the period. The price is currently at +0.77% from its lowest and -1.32% from its highest.69.73
71.21
70.27
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
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
The Central Indicators scanner found this result concerning these indicators:
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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:
White gravestone / inverted hammer
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 | 70.27 | 70.70 | 71.89 | 74.28 |
| Change (%) | -4.41% | -2.12% | -0.63% | - | +0.61% | +2.31% | +5.71% |
| Change | -3.10 | -1.49 | -0.44 | - | +0.43 | +1.62 | +4.01 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Major | Minor |
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 | 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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 40.75 | |
| MACD (12,26,9): | -0.2000 | |
| Directional Movement: | -12.59 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 70.05 | |
| Parabolic SAR (0,02-0,02-0,2): | 69.74 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 70.45 | |
| Zig ZAG (10): | 70.07 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 41.70 | |
| TEMA (21): | 69.99 | |
| Williams %R (14): | -56.73 | |
| Chande Momentum Oscillator (20): | -0.46 | |
| Repulse (5,40,3): | 0.1200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 1.65 |
| MA7: | 68.89 | |
| MA20: | 71.30 | |
| MA50: | 74.17 | |
| MA100: | 75.10 | |
| MAexp7: | 70.18 | |
| MAexp20: | 70.32 | |
| MAexp50: | 70.59 | |
| MAexp100: | 70.63 | |
| Price / MA7: | +2.00% | |
| Price / MA20: | -1.44% | |
| Price / MA50: | -5.26% | |
| Price / MA100: | -6.43% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.45% | |
| Price / MAexp100: | -0.51% |
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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