WTI CRUDE OIL - 15 min. - Technical analysis published on 04/16/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 85.19 USD
My targets
86.33 USD (+0.45%)
87.25 USD (+1.52%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WTI CRUDE OIL. As long as you are above the support located at 85.19 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 86.33 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 87.25 USD as an objective. Crossing it would then enable buyers to target 88.39 USD. If the support 85.19 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
3.8
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Additional analysis
Quotes
The WTI CRUDE OIL price is 85.94 USD. The price registered an increase of +0.62% on the session and was between 85.62 USD and 86.18 USD. This implies that the price is at +0.37% from its lowest and at -0.28% from its highest.85.62
86.18
85.94
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 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 bullish. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 15 minutes
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 9 are neutral and 4 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 15 minutes
RSI indicator is back over 50
Type : Bullish
Timeframe : 15 minutes
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 84.69 | 85.41 | 85.79 | 85.94 | 86.32 | 86.63 | 86.99 |
| Change (%) | -1.45% | -0.62% | -0.17% | - | +0.44% | +0.80% | +1.22% |
| Change | -1.25 | -0.53 | -0.15 | - | +0.38 | +0.69 | +1.05 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.21 | 83.13 | 84.27 | 85.19 | 86.33 | 87.25 | 88.39 |
| Camarilla | 84.84 | 85.03 | 85.22 | 85.41 | 85.60 | 85.79 | 85.98 |
| Woodie | 82.32 | 83.19 | 84.38 | 85.25 | 86.44 | 87.31 | 88.50 |
| Fibonacci | 83.13 | 83.92 | 84.40 | 85.19 | 85.98 | 86.46 | 87.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 81.13 | 82.84 | 84.25 | 85.96 | 87.37 | 89.08 | 90.49 |
| Camarilla | 84.80 | 85.09 | 85.37 | 85.66 | 85.95 | 86.23 | 86.52 |
| Woodie | 80.98 | 82.77 | 84.10 | 85.89 | 87.22 | 89.01 | 90.34 |
| Fibonacci | 82.84 | 84.03 | 84.77 | 85.96 | 87.15 | 87.89 | 89.08 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.45 | |
| MACD (12,26,9): | 0.0500 | |
| Directional Movement: | -1.04 | |
| AROON (14): | -28.58 | |
| DEMA (21): | 86.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 86.11 | |
| Elder Ray (13): | -0.06 | |
| Super Trend (3,10): | 85.73 | |
| Zig ZAG (10): | 85.89 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 25.00 | |
| TEMA (21): | 85.94 | |
| Williams %R (14): | -72.22 | |
| Chande Momentum Oscillator (20): | -0.14 | |
| Repulse (5,40,3): | 0.0300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.31 |
| MA7: | 85.70 | |
| MA20: | 84.07 | |
| MA50: | 79.97 | |
| MA100: | 75.83 | |
| MAexp7: | 85.93 | |
| MAexp20: | 85.92 | |
| MAexp50: | 85.72 | |
| MAexp100: | 85.55 | |
| Price / MA7: | +0.28% | |
| Price / MA20: | +2.22% | |
| Price / MA50: | +7.47% | |
| Price / MA100: | +13.33% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | +0.26% | |
| Price / MAexp100: | +0.46% |
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:
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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.
About author
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