WTI CRUDE OIL - 15 min. - Technical analysis published on 11/18/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 67.51 USD
My targets
68.20 USD (+0.12%)
69.38 USD (+1.85%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 67.51 USD. The buyers' bullish objective is set at 68.20 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 69.38 USD. If there is any crossing, the next objective would be the resistance located at 70.07 USD.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.8
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 68.12 USD. The price has increased by +1.64% since the last closing and was traded between 66.61 USD and 68.23 USD over the period. The price is currently at +2.27% from its lowest and -0.16% from its highest.66.61
68.23
68.12
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a bullish trend. 75.00% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 15 minutes
In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 15 minutes
Aroon indicator bullish trend
Type : Bullish
Timeframe : 15 minutes
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 15 minutes
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 63.14 | 67.20 | 67.76 | 68.12 | 69.74 | 70.41 | 73.09 |
| Change (%) | -7.31% | -1.35% | -0.53% | - | +2.38% | +3.36% | +7.30% |
| Change | -4.98 | -0.92 | -0.36 | - | +1.62 | +2.29 | +4.97 |
| Level | Major | Major | Intermediate | - | Minor | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 64.46 | 65.64 | 66.33 | 67.51 | 68.20 | 69.38 | 70.07 |
| Camarilla | 66.51 | 66.68 | 66.85 | 67.02 | 67.19 | 67.36 | 67.53 |
| Woodie | 64.22 | 65.52 | 66.09 | 67.39 | 67.96 | 69.26 | 69.83 |
| Fibonacci | 65.64 | 66.35 | 66.80 | 67.51 | 68.22 | 68.67 | 69.38 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.97 | 64.39 | 65.71 | 68.13 | 69.45 | 71.87 | 73.19 |
| Camarilla | 65.99 | 66.33 | 66.68 | 67.02 | 67.36 | 67.71 | 68.05 |
| Woodie | 61.41 | 64.12 | 65.15 | 67.86 | 68.89 | 71.60 | 72.63 |
| Fibonacci | 64.39 | 65.82 | 66.71 | 68.13 | 69.56 | 70.45 | 71.87 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 71.44 | |
| MACD (12,26,9): | 0.1400 | |
| Directional Movement: | 20.70 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 67.61 | |
| Parabolic SAR (0,02-0,02-0,2): | 67.10 | |
| Elder Ray (13): | 0.53 | |
| Super Trend (3,10): | 67.35 | |
| Zig ZAG (10): | 68.01 | |
| VORTEX (21): | 1.2600 | |
| Stochastique (14,3,5): | 87.66 | |
| TEMA (21): | 67.70 | |
| Williams %R (14): | -13.04 | |
| Chande Momentum Oscillator (20): | 0.63 | |
| Repulse (5,40,3): | 0.8200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.60 |
| MA7: | 68.40 | |
| MA20: | 69.64 | |
| MA50: | 70.00 | |
| MA100: | 72.14 | |
| MAexp7: | 67.66 | |
| MAexp20: | 67.46 | |
| MAexp50: | 67.34 | |
| MAexp100: | 67.41 | |
| Price / MA7: | -0.41% | |
| Price / MA20: | -2.18% | |
| Price / MA50: | -2.69% | |
| Price / MA100: | -5.57% | |
| Price / MAexp7: | +0.68% | |
| Price / MAexp20: | +0.98% | |
| Price / MAexp50: | +1.16% | |
| Price / MAexp100: | +1.05% |
Quotes :
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10 min delayed data
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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:
-
WTI Crude Oil Forecast November 8, 2024
-
Trade of the week: short WTI crude oil
-
WTI Crude Oil Forecast October 2, 2024
-
WTI Crude Oil Forecast September 23, 2024
-
WTI Crude Oil Forecast September 20, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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