WTI CRUDE OIL - 15 min. - Technical analysis published on 10/14/2024 (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:
Bearish
Underlying:
Strongly bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 75.38 USD
My targets
73.87 USD (-0.57%)
73.20 USD (-1.46%)
My analysis
The bearish basic trend is very strong on WTI CRUDE OIL but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 75.38 USD. Crossing the first support at 73.87 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 73.20 USD as an objective. Crossing it would then enable sellers to target 70.91 USD. Caution, a return to above the resistance located at 75.38 USD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.1
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 74.29 USD. On the day, this instrument lost -1.68% and was traded between 74.08 USD and 75.08 USD over the period. The price is currently at +0.28% from its lowest and -1.05% from its highest.74.08
75.08
74.29
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 15 minutes
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 6 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
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 1
Type : Neutral
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 63.64 | 70.91 | 73.30 | 74.29 | 74.50 | 75.43 | 77.14 |
| Change (%) | -14.34% | -4.55% | -1.33% | - | +0.28% | +1.53% | +3.84% |
| Change | -10.65 | -3.38 | -0.99 | - | +0.21 | +1.14 | +2.85 |
| Level | Major | Major | Major | - | Major | Intermediate | Intermediate |
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 | 73.20 | 73.87 | 74.71 | 75.38 | 76.22 | 76.89 | 77.73 |
| Camarilla | 75.15 | 75.28 | 75.42 | 75.56 | 75.70 | 75.84 | 75.98 |
| Woodie | 73.30 | 73.91 | 74.81 | 75.42 | 76.32 | 76.93 | 77.83 |
| Fibonacci | 73.87 | 74.44 | 74.80 | 75.38 | 75.95 | 76.31 | 76.89 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 64.98 | 68.25 | 71.91 | 75.18 | 78.84 | 82.11 | 85.77 |
| Camarilla | 73.65 | 74.29 | 74.93 | 75.56 | 76.20 | 76.83 | 77.47 |
| Woodie | 65.17 | 68.35 | 72.10 | 75.28 | 79.03 | 82.21 | 85.96 |
| Fibonacci | 68.25 | 70.90 | 72.54 | 75.18 | 77.83 | 79.47 | 82.11 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.80 | 60.04 | 64.94 | 69.18 | 74.08 | 78.32 | 83.22 |
| Camarilla | 67.32 | 68.15 | 68.99 | 69.83 | 70.67 | 71.51 | 72.34 |
| Woodie | 56.12 | 60.21 | 65.26 | 69.35 | 74.40 | 78.49 | 83.54 |
| Fibonacci | 60.04 | 63.54 | 65.69 | 69.18 | 72.68 | 74.83 | 78.32 |
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): | 45.87 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | -5.77 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 74.59 | |
| Parabolic SAR (0,02-0,02-0,2): | 74.82 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 74.91 | |
| Zig ZAG (10): | 74.55 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 32.58 | |
| TEMA (21): | 74.64 | |
| Williams %R (14): | -91.67 | |
| Chande Momentum Oscillator (20): | -0.18 | |
| Repulse (5,40,3): | -0.1500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.14 |
| MA7: | 74.85 | |
| MA20: | 71.78 | |
| MA50: | 71.83 | |
| MA100: | 73.79 | |
| MAexp7: | 74.58 | |
| MAexp20: | 74.63 | |
| MAexp50: | 74.76 | |
| MAexp100: | 74.88 | |
| Price / MA7: | -0.75% | |
| Price / MA20: | +3.50% | |
| Price / MA50: | +3.42% | |
| Price / MA100: | +0.68% | |
| Price / MAexp7: | -0.39% | |
| Price / MAexp20: | -0.46% | |
| Price / MAexp50: | -0.63% | |
| Price / MAexp100: | -0.79% |
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:
-
WTI Crude Oil Forecast October 2, 2024
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WTI Crude Oil Forecast September 23, 2024
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WTI Crude Oil Forecast September 20, 2024
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WTI Crude Oil Forecast September 4, 2024
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WTI Crude Oil Forecast August 30, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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