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 11/01/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

28%

My opinion

Bullish above 70.41 USD

My targets

71.72 USD (+0.72%)

72.34 USD (+1.59%)

My analysis

The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 70.41 USD, you could try to benefit from the boom. The first bullish objective is located at 71.72 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 72.34 USD as an objective. Crossing it would then enable buyers to target 72.79 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

8.4

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 joana. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL rating is 71.21 USD. On the day, this instrument gained +2.82% with the lowest point at 70.32 USD and the highest point at 71.45 USD. The deviation from the price is +1.27% for the low point and -0.34% for the high point.

70.32

71.45

71.21

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 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 13 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

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	69.16	69.77	70.41	71.21	71.72	72.34	72.79
Change (%)	-2.88%	-2.02%	-1.12%	-	+0.72%	+1.59%	+2.22%
Change	-2.05	-1.44	-0.80	-	+0.51	+1.13	+1.58
Level	Intermediate	Intermediate	Major	-	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	65.59	66.95	68.10	69.46	70.61	71.97	73.12
Camarilla	68.57	68.80	69.03	69.26	69.49	69.72	69.95
Woodie	65.50	66.90	68.01	69.41	70.52	71.92	73.03
Fibonacci	66.95	67.91	68.50	69.46	70.42	71.01	71.97

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	65.50	66.98	69.38	70.86	73.26	74.74	77.14
Camarilla	70.71	71.07	71.42	71.78	72.14	72.49	72.85
Woodie	65.96	67.21	69.84	71.09	73.72	74.97	77.60
Fibonacci	66.98	68.46	69.38	70.86	72.34	73.26	74.74

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	55.30	59.54	64.44	68.68	73.58	77.82	82.72
Camarilla	66.82	67.65	68.49	69.33	70.17	71.01	71.84
Woodie	55.62	59.71	64.76	68.85	73.90	77.99	83.04
Fibonacci	59.54	63.04	65.19	68.68	72.18	74.33	77.82

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):	76.10
MACD (12,26,9):	0.5100
Directional Movement:	21.24
AROON (14):	92.86
DEMA (21):	71.02
Parabolic SAR (0,02-0,02-0,2):	70.48
Elder Ray (13):	0.61
Super Trend (3,10):	70.16
Zig ZAG (10):	71.23
VORTEX (21):	1.2800
Stochastique (14,3,5):	87.12
TEMA (21):	71.14
Williams %R (14):	-23.01
Chande Momentum Oscillator (20):	0.67
Repulse (5,40,3):	0.5100
ROCnROLL:	1
TRIX (15,9):	0.1000
Courbe Coppock:	3.00

MA7:	69.38
MA20:	71.16
MA50:	70.31
MA100:	72.96
MAexp7:	70.86
MAexp20:	70.35
MAexp50:	69.58
MAexp100:	69.26
Price / MA7:	+2.64%
Price / MA20:	+0.07%
Price / MA50:	+1.28%
Price / MA100:	-2.40%
Price / MAexp7:	+0.49%
Price / MAexp20:	+1.22%
Price / MAexp50:	+2.34%
Price / MAexp100:	+2.82%

Quotes : - 10 min delayed data - 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:

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

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