WTI CRUDE OIL

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
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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: Bullish

Underlying: Strongly bullish

Technical indicators

56%

22%

My opinion

Bullish above 71.82 USD

My targets

73.09 USD (+1.42%)

76.06 USD (+5.54%)

My analysis

The basic bullish trend is very strong on WTI CRUDE OIL but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 71.82 USD. Crossing the first resistance at 73.09 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 76.06 USD as an objective. Crossing it would then enable buyers to target 78.48 USD. Caution, a return to below 71.82 USD would be a sign of a consolidation phase in 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.

Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.

Force

5.7

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 price is 72.07 USD. On the day, this instrument gained +0.53% and was between 70.66 USD and 72.29 USD. This implies that the price is at +2.00% from its lowest and at -0.30% from its highest.

70.66

72.29

72.07

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

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. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, of the 18 technical indicators analysed by Central Analyzer, 10 are bullish, 4 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

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	69.74	70.41	71.82	72.07	73.09	76.06	78.48
Change (%)	-3.23%	-2.30%	-0.35%	-	+1.42%	+5.54%	+8.89%
Change	-2.33	-1.66	-0.25	-	+1.02	+3.99	+6.41
Level	Intermediate	Intermediate	Major	-	Intermediate	Intermediate	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	67.19	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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	50.14
MACD (12,26,9):	-0.0800
Directional Movement:	-8.07
AROON (14):	-64.29
DEMA (21):	71.44
Parabolic SAR (0,02-0,02-0,2):	70.66
Elder Ray (13):	0.19
Super Trend (3,10):	72.12
Zig ZAG (10):	71.86
VORTEX (21):	0.9800
Stochastique (14,3,5):	59.83
TEMA (21):	71.44
Williams %R (14):	-15.62
Chande Momentum Oscillator (20):	-0.07
Repulse (5,40,3):	1.3600
ROCnROLL:	1
TRIX (15,9):	-0.0100
Courbe Coppock:	1.66

MA7:	70.64
MA20:	70.52
MA50:	70.06
MA100:	72.75
MAexp7:	71.49
MAexp20:	71.49
MAexp50:	71.48
MAexp100:	71.18
Price / MA7:	+2.02%
Price / MA20:	+2.20%
Price / MA50:	+2.87%
Price / MA100:	-0.93%
Price / MAexp7:	+0.81%
Price / MAexp20:	+0.81%
Price / MAexp50:	+0.83%
Price / MAexp100:	+1.25%

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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