WTI CRUDE OIL - 1H - Technical analysis published on 02/06/2025 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 72.00 USD
My targets
70.67 USD (-1.34%)
70.14 USD (-2.08%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 72.00 USD remains possible. It is advisable to trade WTI CRUDE OIL with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 72.00 USD. The next bearish objective for sellers is set at 70.67 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 70.14 USD. In case of crossing, the next objective would be the support located at 67.26 USD. PS: if there is a bullish break in the resistance located at 72.00 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
2.3
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 71.63 USD. The price has increased by +0.85% since the last closing with the lowest point at 71.04 USD and the highest point at 71.80 USD. The deviation from the price is +0.83% for the low point and -0.24% for the high point.71.04
71.80
71.63
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, only 8 technical indicators out of 18 studied are currently positioned bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back over the pivot point
Type : Bullish
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, 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 | 67.26 | 70.14 | 70.67 | 71.63 | 72.00 | 73.34 | 73.84 |
| Change (%) | -6.10% | -2.08% | -1.34% | - | +0.52% | +2.39% | +3.09% |
| Change | -4.37 | -1.49 | -0.96 | - | +0.37 | +1.71 | +2.21 |
| Level | Minor | Minor | Intermediate | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 68.33 | 69.64 | 70.34 | 71.65 | 72.35 | 73.66 | 74.36 |
| Camarilla | 70.48 | 70.66 | 70.85 | 71.03 | 71.21 | 71.40 | 71.58 |
| Woodie | 68.02 | 69.49 | 70.03 | 71.50 | 72.04 | 73.51 | 74.05 |
| Fibonacci | 69.64 | 70.41 | 70.89 | 71.65 | 72.42 | 72.90 | 73.66 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 68.05 | 70.00 | 71.26 | 73.21 | 74.47 | 76.42 | 77.68 |
| Camarilla | 71.65 | 71.94 | 72.24 | 72.53 | 72.82 | 73.12 | 73.41 |
| Woodie | 67.72 | 69.83 | 70.93 | 73.04 | 74.14 | 76.25 | 77.35 |
| Fibonacci | 70.00 | 71.22 | 71.98 | 73.21 | 74.43 | 75.19 | 76.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.10 | 65.63 | 69.08 | 74.61 | 78.06 | 83.59 | 87.04 |
| Camarilla | 70.06 | 70.88 | 71.71 | 72.53 | 73.35 | 74.18 | 75.00 |
| Woodie | 59.06 | 65.11 | 68.04 | 74.09 | 77.02 | 83.07 | 86.00 |
| Fibonacci | 65.63 | 69.06 | 71.18 | 74.61 | 78.04 | 80.16 | 83.59 |
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): | 45.70 | |
| MACD (12,26,9): | -0.1300 | |
| Directional Movement: | -2.16 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 71.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 71.27 | |
| Elder Ray (13): | 0.04 | |
| Super Trend (3,10): | 71.90 | |
| Zig ZAG (10): | 71.32 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 43.37 | |
| TEMA (21): | 71.31 | |
| Williams %R (14): | -57.75 | |
| Chande Momentum Oscillator (20): | 0.17 | |
| Repulse (5,40,3): | -0.1300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 0.46 |
| MA7: | 72.30 | |
| MA20: | 74.78 | |
| MA50: | 71.65 | |
| MA100: | 70.43 | |
| MAexp7: | 71.38 | |
| MAexp20: | 71.43 | |
| MAexp50: | 71.79 | |
| MAexp100: | 72.25 | |
| Price / MA7: | -0.93% | |
| Price / MA20: | -4.21% | |
| Price / MA50: | -0.03% | |
| Price / MA100: | +1.70% | |
| Price / MAexp7: | +0.35% | |
| Price / MAexp20: | +0.28% | |
| Price / MAexp50: | -0.22% | |
| Price / MAexp100: | -0.86% |
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:
-
WTI Crude Oil - Looking for Value
-
Yearly Technical Outlook 2025: Gold, WTI crude oil, US 500
-
Technical Analysis on US Dollar index, Gold, WTI
-
WTI Crude Oil Forecast November 21, 2024
-
WTI Crude Oil Forecast November 8, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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