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 12/12/2024 (GMT)

Timeframe : 1H
- Analysis generated on
Status : NEUTRAL

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bullish

Technical indicators

17%

50%

33%

My opinion

Neutral between 69.14 USD and 69.94 USD

My targets

My analysis

The current short-term bearish trend is in contrast to the bullish trend. WTI CRUDE OIL is apparently trying to reverse the trend. The return to a neutral and then bearish trend should not be long in coming if the current decline continues. What is currently happening on WTI CRUDE OIL basics that the price is plunging so much? In such a situation, it would be feasible to stay away from WTI CRUDE OIL or not try to counterbalance this current drop in the short term. If there is a sale, the sellers could use the support located at 69.14 USD as an objective. Sellers could then target the support located at 68.34 USD. If there is any crossing, the next objective would be support 67.72 USD. Attention should be paid to the price reaction at the start of the supports as trend traders may consider resuming purchases if the basic trend has not been able to ease or if the short term has itself become excessive.

Technical indicators are bearish in the very shrot term and could soon allow change to a bearish sentiment.

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 CREAM89. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WTI CRUDE OIL rating 69.34 USD. The price is lower by -1.35% since the last closing and was between 69.23 USD and 70.72 USD. This implies that the price is at +0.16% from its lowest and at -1.95% from its highest.

69.23

70.72

69.34

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 Central Records scanner for higher/lower results shows an item:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of WTI CRUDE OIL in 1H shows an overall bullish trend. 64.29% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that there could be a reversal of the trend. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

In fact, only 9 technical indicators out of 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour

SuperTrend indicator bearish reversal

Type : Bearish

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : 1 hour

Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	67.72	68.34	69.14	69.34	69.94	70.23	70.52
Change (%)	-2.34%	-1.44%	-0.29%	-	+0.87%	+1.28%	+1.70%
Change	-1.62	-1.00	-0.20	-	+0.60	+0.89	+1.18
Level	Major	Minor	Minor	-	Minor	Minor	Intermediate

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	66.89	67.66	68.98	69.75	71.07	71.84	73.16
Camarilla	69.72	69.91	70.10	70.29	70.48	70.67	70.87
Woodie	67.16	67.80	69.25	69.89	71.34	71.98	73.43
Fibonacci	67.66	68.46	68.96	69.75	70.55	71.05	71.84

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	62.42	64.70	65.95	68.23	69.48	71.76	73.01
Camarilla	66.23	66.55	66.88	67.20	67.52	67.85	68.17
Woodie	61.91	64.44	65.44	67.97	68.97	71.50	72.50
Fibonacci	64.70	66.05	66.88	68.23	69.58	70.41	71.76

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	59.17	62.89	65.44	69.16	71.71	75.43	77.98
Camarilla	66.28	66.85	67.43	68.00	68.58	69.15	69.72
Woodie	58.60	62.60	64.87	68.87	71.14	75.14	77.41
Fibonacci	62.89	65.28	66.76	69.16	71.55	73.03	75.43

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):	41.81
MACD (12,26,9):	0.1900
Directional Movement:	-6.18
AROON (14):	-35.71
DEMA (21):	70.49
Parabolic SAR (0,02-0,02-0,2):	70.64
Elder Ray (13):	-0.19
Super Trend (3,10):	70.99
Zig ZAG (10):	69.72
VORTEX (21):	1.0400
Stochastique (14,3,5):	25.82
TEMA (21):	70.36
Williams %R (14):	-92.45
Chande Momentum Oscillator (20):	-0.53
Repulse (5,40,3):	-1.2100
ROCnROLL:	-1
TRIX (15,9):	0.0700
Courbe Coppock:	0.03

MA7:	68.72
MA20:	68.89
MA50:	70.08
MA100:	70.60
MAexp7:	70.21
MAexp20:	70.16
MAexp50:	69.64
MAexp100:	69.18
Price / MA7:	+0.90%
Price / MA20:	+0.65%
Price / MA50:	-1.06%
Price / MA100:	-1.78%
Price / MAexp7:	-1.24%
Price / MAexp20:	-1.17%
Price / MAexp50:	-0.43%
Price / MAexp100:	+0.23%

Quotes : - 10 min delayed data - NYMEX Futures

News

The last news published on WTI CRUDE OIL at the time of the generation of this analysis was as follows:

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

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