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 05/01/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

50%

33%

My opinion

Bearish under 81.56 USD

My targets

79.24 USD (-2.00%)

78.55 USD (-2.86%)

My analysis

The bearish trend is currently very strong for WTI CRUDE OIL. As long as the price remains below the resistance at 81.56 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 79.24 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 78.55 USD as an objective. Crossing it would then enable sellers to target 75.27 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

7.1

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

Additional analysis

Quotes

The WTI CRUDE OIL price is 80.86 USD. The price is lower by -1.31% since the last closing with the lowest point at 80.80 USD and the highest point at 81.51 USD. The deviation from the price is +0.07% for the low point and -0.80% for the high point.

80.80

81.51

80.86

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this WTI CRUDE OIL chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed 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.

The probability of a further decline is low given the direction of the technical indicators.
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 this signal:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

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

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	68.52	75.27	78.55	80.86	80.95	81.56	82.42
Change (%)	-15.26%	-6.91%	-2.86%	-	+0.11%	+0.87%	+1.93%
Change	-12.34	-5.59	-2.31	-	+0.09	+0.70	+1.56
Level	Major	Intermediate	Intermediate	-	Intermediate	Intermediate	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	78.47	79.71	80.82	82.06	83.17	84.41	85.52
Camarilla	81.28	81.50	81.72	81.93	82.15	82.36	82.58
Woodie	78.41	79.68	80.76	82.03	83.11	84.38	85.46
Fibonacci	79.71	80.61	81.16	82.06	82.96	83.51	84.41

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	77.79	79.24	81.55	83.00	85.31	86.76	89.07
Camarilla	82.82	83.16	83.51	83.85	84.20	84.54	84.88
Woodie	78.21	79.46	81.97	83.22	85.73	86.98	89.49
Fibonacci	79.24	80.68	81.57	83.00	84.44	85.33	86.76

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	69.03	72.05	77.31	80.33	85.59	88.61	93.87
Camarilla	80.29	81.05	81.81	82.57	83.33	84.09	84.85
Woodie	70.15	72.61	78.43	80.89	86.71	89.17	94.99
Fibonacci	72.05	75.21	77.17	80.33	83.49	85.45	88.61

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):	35.83
MACD (12,26,9):	-0.3800
Directional Movement:	-15.34
AROON (14):	-78.57
DEMA (21):	81.00
Parabolic SAR (0,02-0,02-0,2):	82.17
Elder Ray (13):	-0.28
Super Trend (3,10):	81.88
Zig ZAG (10):	80.94
VORTEX (21):	0.7700
Stochastique (14,3,5):	8.22
TEMA (21):	80.90
Williams %R (14):	-92.06
Chande Momentum Oscillator (20):	-0.75
Repulse (5,40,3):	-0.2600
ROCnROLL:	2
TRIX (15,9):	-0.0700
Courbe Coppock:	1.93

MA7:	82.71
MA20:	83.44
MA50:	80.62
MA100:	75.94
MAexp7:	81.11
MAexp20:	81.54
MAexp50:	82.15
MAexp100:	82.53
Price / MA7:	-2.24%
Price / MA20:	-3.09%
Price / MA50:	+0.30%
Price / MA100:	+6.48%
Price / MAexp7:	-0.31%
Price / MAexp20:	-0.83%
Price / MAexp50:	-1.57%
Price / MAexp100:	-2.02%

Quotes : - 10 min delayed data - NYMEX Futures

News

The latest news and videos published on WTI CRUDE OIL at the time of the analysis were as follows:

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

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