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 11/07/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bearish

Technical indicators

11%

67%

22%

My opinion

Bearish under 71.82 USD

My targets

70.41 USD (-0.96%)

69.74 USD (-1.90%)

My analysis

The strong short-term decline of WTI CRUDE OIL reinforces the current slightly bearish trend. As long as the price remains below 71.82 USD, you could take advantage of this bearish acceleration. The first bearish objective is located at 70.41 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 69.74 USD as an objective. Crossing it would then enable sellers to target 68.52 USD. A return to above 71.82 USD would be a sign of a correction of short-term bearish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.

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

4.6

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 winewa8300. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The WTI CRUDE OIL rating is 71.09 USD. On the day, this instrument lost -0.84% with the lowest point at 70.66 USD and the highest point at 72.29 USD. The deviation from the price is +0.61% for the low point and -1.66% for the high point.

70.66

72.29

71.09

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:

Technical

Technical analysis of this 1H chart of WTI CRUDE OIL indicates that the overall trend is slightly bearish. 60.71% of the signals given by moving averages are bearish. This slightly bearish trend could be reinforced by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour

An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Previous candle closed under Bollinger bands

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	68.52	69.74	70.41	71.09	71.82	73.09	76.06
Change (%)	-3.62%	-1.90%	-0.96%	-	+1.03%	+2.81%	+6.99%
Change	-2.57	-1.35	-0.68	-	+0.73	+2.00	+4.97
Level	Minor	Intermediate	Intermediate	-	Major	Intermediate	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	67.19	68.46	70.08	71.35	72.97	74.24	75.86
Camarilla	70.90	71.16	71.43	71.69	71.96	72.22	72.49
Woodie	67.36	68.55	70.25	71.44	73.14	74.33	76.03
Fibonacci	68.46	69.57	70.25	71.35	72.46	73.14	74.24

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	62.26	64.49	66.99	69.22	71.72	73.95	76.45
Camarilla	68.19	68.62	69.06	69.49	69.92	70.36	70.79
Woodie	62.40	64.56	67.13	69.29	71.86	74.02	76.59
Fibonacci	64.49	66.30	67.41	69.22	71.03	72.14	73.95

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	53.58	60.15	64.82	71.39	76.06	82.63	87.30
Camarilla	66.40	67.43	68.46	69.49	70.52	71.55	72.58
Woodie	52.63	59.68	63.87	70.92	75.11	82.16	86.35
Fibonacci	60.15	64.44	67.10	71.39	75.68	78.34	82.63

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):	37.65
MACD (12,26,9):	-0.0900
Directional Movement:	-15.19
AROON (14):	-64.29
DEMA (21):	71.50
Parabolic SAR (0,02-0,02-0,2):	72.45
Elder Ray (13):	-0.56
Super Trend (3,10):	72.14
Zig ZAG (10):	70.77
VORTEX (21):	1.1100
Stochastique (14,3,5):	5.54
TEMA (21):	71.36
Williams %R (14):	-98.06
Chande Momentum Oscillator (20):	-0.96
Repulse (5,40,3):	-1.2300
ROCnROLL:	2
TRIX (15,9):	0.0100
Courbe Coppock:	1.02

MA7:	70.46
MA20:	70.48
MA50:	70.04
MA100:	72.75
MAexp7:	71.31
MAexp20:	71.57
MAexp50:	71.51
MAexp100:	71.16
Price / MA7:	+0.89%
Price / MA20:	+0.87%
Price / MA50:	+1.50%
Price / MA100:	-2.28%
Price / MAexp7:	-0.31%
Price / MAexp20:	-0.67%
Price / MAexp50:	-0.59%
Price / MAexp100:	-0.10%

Quotes : - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:

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

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