WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	WBS
ISIN:

WTI CRUDE OIL - 1H - Technical analysis published on 09/18/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

39%

28%

33%

My opinion

Bullish above 69.83 USD

My targets

71.89 USD (+1.58%)

74.28 USD (+4.96%)

My analysis

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WTI CRUDE OIL. As long as you are above the support located at 69.83 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 71.89 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 74.28 USD as an objective. Crossing it would then enable buyers to target 77.42 USD. If the support 69.83 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.

In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.

Force

3.9

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by CREAM89. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL price is 70.77 USD. The price registered a decrease of -0.59% on the session and was traded between 69.73 USD and 71.21 USD over the period. The price is currently at +1.49% from its lowest and -0.62% from its highest.

69.73

71.21

70.77

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 1H chart of WTI CRUDE OIL indicates that the overall trend is bullish. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. An assessment of moving averages reveals a bullish signal that could impact this trend:

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : 1 hour

The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	68.78	69.83	70.70	70.77	71.89	74.28	77.42
Change (%)	-2.81%	-1.33%	-0.10%	-	+1.58%	+4.96%	+9.40%
Change	-1.99	-0.94	-0.07	-	+1.12	+3.51	+6.65
Level	Intermediate	Intermediate	Minor	-	Major	Minor	Intermediate

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 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):	50.39
MACD (12,26,9):	-0.0600
Directional Movement:	-8.71
AROON (14):	-92.86
DEMA (21):	70.63
Parabolic SAR (0,02-0,02-0,2):	71.02
Elder Ray (13):	-0.18
Super Trend (3,10):	71.03
Zig ZAG (10):	70.61
VORTEX (21):	1.0100
Stochastique (14,3,5):	30.74
TEMA (21):	70.37
Williams %R (14):	-41.22
Chande Momentum Oscillator (20):	-0.50
Repulse (5,40,3):	0.5600
ROCnROLL:	1
TRIX (15,9):	0.0100
Courbe Coppock:	2.30

MA7:	68.93
MA20:	71.32
MA50:	74.18
MA100:	75.10
MAexp7:	70.43
MAexp20:	70.63
MAexp50:	70.39
MAexp100:	69.87
Price / MA7:	+2.67%
Price / MA20:	-0.77%
Price / MA50:	-4.60%
Price / MA100:	-5.77%
Price / MAexp7:	+0.48%
Price / MAexp20:	+0.20%
Price / MAexp50:	+0.54%
Price / MAexp100:	+1.29%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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