WTI CRUDE OIL - 15 min. - Technical analysis published on 04/09/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 87.46 USD
My targets
86.07 USD (-0.39%)
85.05 USD (-1.58%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 87.46 USD. The sellers' bearish objective is set at 86.07 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 85.05 USD. In case of crossing, the next objective would be the support located at 83.66 USD.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
5.7
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 86.41 USD. The price registered a decrease of -0.02% on the session and was between 86.06 USD and 86.98 USD. This implies that the price is at +0.41% from its lowest and at -0.66% from its highest.86.06
86.98
86.41
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
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA50 & AMA100
Type : Bearish
Timeframe : 15 minutes
In fact, 13 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 81.54 | 82.73 | 85.43 | 86.41 | 87.19 | 90.79 | 119.11 |
| Change (%) | -5.64% | -4.26% | -1.13% | - | +0.90% | +5.07% | +37.84% |
| Change | -4.87 | -3.68 | -0.98 | - | +0.78 | +4.38 | +32.70 |
| Level | Minor | Major | Major | - | Major | Major | 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 | 82.64 | 83.66 | 85.05 | 86.07 | 87.46 | 88.48 | 89.87 |
| Camarilla | 85.77 | 85.99 | 86.21 | 86.43 | 86.65 | 86.87 | 87.09 |
| Woodie | 82.82 | 83.75 | 85.23 | 86.16 | 87.64 | 88.57 | 90.05 |
| Fibonacci | 83.66 | 84.58 | 85.15 | 86.07 | 86.99 | 87.56 | 88.48 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.77 | 80.68 | 83.80 | 85.71 | 88.83 | 90.74 | 93.86 |
| Camarilla | 85.53 | 85.99 | 86.45 | 86.91 | 87.37 | 87.83 | 88.29 |
| Woodie | 79.37 | 80.98 | 84.40 | 86.01 | 89.43 | 91.04 | 94.46 |
| Fibonacci | 80.68 | 82.61 | 83.79 | 85.71 | 87.64 | 88.82 | 90.74 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.17 | 73.19 | 78.45 | 81.47 | 86.73 | 89.75 | 95.01 |
| Camarilla | 81.43 | 82.19 | 82.95 | 83.71 | 84.47 | 85.23 | 85.99 |
| Woodie | 71.29 | 73.75 | 79.57 | 82.03 | 87.85 | 90.31 | 96.13 |
| Fibonacci | 73.19 | 76.35 | 78.31 | 81.47 | 84.63 | 86.59 | 89.75 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 38.11 | |
| MACD (12,26,9): | -0.0900 | |
| Directional Movement: | -9.11 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 86.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 86.74 | |
| Elder Ray (13): | -0.18 | |
| Super Trend (3,10): | 86.92 | |
| Zig ZAG (10): | 86.18 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 13.25 | |
| TEMA (21): | 86.26 | |
| Williams %R (14): | -92.86 | |
| Chande Momentum Oscillator (20): | -0.54 | |
| Repulse (5,40,3): | -0.4100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.98 |
| MA7: | 85.81 | |
| MA20: | 82.69 | |
| MA50: | 78.73 | |
| MA100: | 75.34 | |
| MAexp7: | 86.35 | |
| MAexp20: | 86.48 | |
| MAexp50: | 86.53 | |
| MAexp100: | 86.48 | |
| Price / MA7: | +0.70% | |
| Price / MA20: | +4.50% | |
| Price / MA50: | +9.75% | |
| Price / MA100: | +14.69% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.13% | |
| Price / MAexp100: | -0.07% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:
-
Technical Analysis: 04/04/2024 - WTI futures surge to a 5-month high
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Technical Analysis: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
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Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
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Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
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Technical Analysis: 08/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
This member declared not having a position on this financial instrument or a related financial instrument.
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