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 12/01/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

56%

33%

My opinion

Bearish under 68.34 USD

My targets

67.09 USD (-1.34%)

63.13 USD (-7.16%)

My analysis

The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 68.34 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 67.09 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 63.13 USD as an objective. Crossing it would then enable sellers to target 56.59 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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, 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

7.1

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

Additional analysis

Quotes

The WTI CRUDE OIL price is 68.00 USD. The price registered a decrease of -1.28% on the session and was traded between 67.87 USD and 69.69 USD over the period. The price is currently at +0.19% from its lowest and -2.43% from its highest.

67.87

69.69

68.00

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

A study of price movements over other periods shows the following variations:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this WTI CRUDE OIL chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

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

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

SuperTrend indicator bearish reversal

Type : Bearish

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	56.59	63.13	67.09	68.00	68.34	69.30	70.40
Change (%)	-16.78%	-7.16%	-1.34%	-	+0.50%	+1.91%	+3.53%
Change	-11.41	-4.87	-0.91	-	+0.34	+1.30	+2.40
Level	Intermediate	Major	Intermediate	-	Intermediate	Intermediate	Major

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	67.30	67.79	68.33	68.82	69.36	69.85	70.39
Camarilla	68.60	68.69	68.79	68.88	68.97	69.07	69.16
Woodie	67.34	67.80	68.37	68.83	69.40	69.86	70.43
Fibonacci	67.79	68.18	68.42	68.82	69.21	69.45	69.85

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	63.15	64.87	68.06	69.78	72.97	74.69	77.88
Camarilla	69.89	70.34	70.79	71.24	71.69	72.14	72.59
Woodie	63.88	65.24	68.79	70.15	73.70	75.06	78.61
Fibonacci	64.87	66.75	67.91	69.78	71.66	72.82	74.69

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	53.57	60.14	64.81	71.38	76.05	82.62	87.29
Camarilla	66.39	67.42	68.45	69.48	70.51	71.54	72.57
Woodie	52.62	59.67	63.86	70.91	75.10	82.15	86.34
Fibonacci	60.14	64.43	67.09	71.38	75.67	78.33	82.62

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):	38.05
MACD (12,26,9):	-0.0700
Directional Movement:	-13.60
AROON (14):	-28.57
DEMA (21):	68.75
Parabolic SAR (0,02-0,02-0,2):	69.67
Elder Ray (13):	-0.60
Super Trend (3,10):	69.48
Zig ZAG (10):	68.15
VORTEX (21):	0.8800
Stochastique (14,3,5):	19.74
TEMA (21):	68.68
Williams %R (14):	-84.62
Chande Momentum Oscillator (20):	-0.37
Repulse (5,40,3):	-0.9700
ROCnROLL:	2
TRIX (15,9):	0.0000
Courbe Coppock:	0.56

MA7:	69.26
MA20:	69.50
MA50:	70.20
MA100:	71.29
MAexp7:	68.66
MAexp20:	68.81
MAexp50:	68.88
MAexp100:	69.03
Price / MA7:	-1.82%
Price / MA20:	-2.16%
Price / MA50:	-3.13%
Price / MA100:	-4.61%
Price / MAexp7:	-0.74%
Price / MAexp20:	-0.96%
Price / MAexp50:	-1.06%
Price / MAexp100:	-1.27%

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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