WTI CRUDE OIL - 1H - Technical analysis published on 12/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 70.37 USD
My targets
69.15 USD (-1.02%)
68.34 USD (-2.18%)
My analysis
WTI CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 70.37 USD. The next support located at 69.15 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 68.34 USD. Below this support, sellers could then target 67.72 USD.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5
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This analysis was given by CREAM89. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 69.86 USD. The price is lower by -1.20% since the last closing and was traded between 69.18 USD and 70.92 USD over the period. The price is currently at +0.98% from its lowest and -1.49% from its highest.69.18
70.92
69.86
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of WTI CRUDE OIL indicates that the overall trend is bearish. The signals given by moving averages are 75.00% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 5 are bullish, 4 are neutral and 9 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 67.72 | 68.34 | 69.15 | 69.86 | 70.37 | 71.20 | 73.08 |
Change (%) | -3.06% | -2.18% | -1.02% | - | +0.73% | +1.92% | +4.61% |
Change | -2.14 | -1.52 | -0.71 | - | +0.51 | +1.34 | +3.22 |
Level | Intermediate | Minor | Minor | - | Intermediate | Major | Minor |
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 | 69.17 | 69.77 | 70.24 | 70.84 | 71.31 | 71.91 | 72.38 |
Camarilla | 70.42 | 70.51 | 70.61 | 70.71 | 70.81 | 70.91 | 71.00 |
Woodie | 69.11 | 69.74 | 70.18 | 70.81 | 71.25 | 71.88 | 72.32 |
Fibonacci | 69.77 | 70.18 | 70.43 | 70.84 | 71.25 | 71.50 | 71.91 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 64.10 | 65.59 | 68.44 | 69.93 | 72.78 | 74.27 | 77.12 |
Camarilla | 70.10 | 70.49 | 70.89 | 71.29 | 71.69 | 72.09 | 72.48 |
Woodie | 64.78 | 65.93 | 69.12 | 70.27 | 73.46 | 74.61 | 77.80 |
Fibonacci | 65.59 | 67.25 | 68.27 | 69.93 | 71.59 | 72.61 | 74.27 |
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 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): | 39.35 | |
MACD (12,26,9): | -0.3000 | |
Directional Movement: | -17.33 | |
AROON (14): | -57.14 | |
DEMA (21): | 69.75 | |
Parabolic SAR (0,02-0,02-0,2): | 70.26 | |
Elder Ray (13): | -0.27 | |
Super Trend (3,10): | 70.44 | |
Zig ZAG (10): | 69.75 | |
VORTEX (21): | 0.8200 | |
Stochastique (14,3,5): | 20.50 | |
TEMA (21): | 69.53 | |
Williams %R (14): | -67.82 | |
Chande Momentum Oscillator (20): | -1.08 | |
Repulse (5,40,3): | 0.1500 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0400 | |
Courbe Coppock: | 2.75 |
MA7: | 69.86 | |
MA20: | 69.22 | |
MA50: | 69.85 | |
MA100: | 70.52 | |
MAexp7: | 69.74 | |
MAexp20: | 70.10 | |
MAexp50: | 70.33 | |
MAexp100: | 70.15 | |
Price / MA7: | -0% | |
Price / MA20: | +0.92% | |
Price / MA50: | +0.01% | |
Price / MA100: | -0.94% | |
Price / MAexp7: | +0.17% | |
Price / MAexp20: | -0.34% | |
Price / MAexp50: | -0.67% | |
Price / MAexp100: | -0.41% |
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:
-
Technical Analysis on US Dollar index, Gold, WTI
-
WTI Crude Oil Forecast November 21, 2024
-
WTI Crude Oil Forecast November 8, 2024
-
Trade of the week: short WTI crude oil
-
WTI Crude Oil Forecast October 2, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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