WTI CRUDE OIL - 15 min. - Technical analysis published on 05/01/2024 (GMT)
- 99
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 80.82 USD
My targets
78.47 USD (-1.06%)
75.27 USD (-5.09%)
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 80.82 USD. The sellers' bearish objective is set at 78.47 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 75.27 USD. In case of crossing, the next objective would be the support located at 68.52 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
0
10
7.9
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 KBPRASAD. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL rating is 79.31 USD. The price is lower by -3.20% since the last closing and was traded between 79.11 USD and 81.57 USD over the period. The price is currently at +0.25% from its lowest and -2.77% from its highest.79.11
81.57
79.31
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this WTI CRUDE OIL chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 15 minutes
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 3
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 3
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 68.52 | 75.27 | 78.55 | 79.31 | 80.95 | 81.56 | 82.42 |
| Change (%) | -13.60% | -5.09% | -0.96% | - | +2.07% | +2.84% | +3.92% |
| Change | -10.79 | -4.04 | -0.76 | - | +1.64 | +2.25 | +3.11 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Intermediate | Intermediate |
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 | 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): | 27.94 | |
| MACD (12,26,9): | -0.3200 | |
| Directional Movement: | -24.34 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 79.98 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.04 | |
| Elder Ray (13): | -0.85 | |
| Super Trend (3,10): | 80.42 | |
| Zig ZAG (10): | 79.16 | |
| VORTEX (21): | 0.7800 | |
| Stochastique (14,3,5): | 4.59 | |
| TEMA (21): | 79.55 | |
| Williams %R (14): | -95.93 | |
| Chande Momentum Oscillator (20): | -1.40 | |
| Repulse (5,40,3): | -0.8500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 2.32 |
| MA7: | 82.49 | |
| MA20: | 83.35 | |
| MA50: | 80.59 | |
| MA100: | 75.92 | |
| MAexp7: | 79.65 | |
| MAexp20: | 80.34 | |
| MAexp50: | 80.70 | |
| MAexp100: | 81.12 | |
| Price / MA7: | -3.86% | |
| Price / MA20: | -4.85% | |
| Price / MA50: | -1.59% | |
| Price / MA100: | +4.47% | |
| Price / MAexp7: | -0.43% | |
| Price / MAexp20: | -1.28% | |
| Price / MAexp50: | -1.72% | |
| Price / MAexp100: | -2.23% |
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:
-
Technical Analysis: 04/04/2024 - WTI futures surge to a 5-month high
-
Technical Analysis: 28/03/2024 - WTI oil futures in fierce battle with 50.0% Fibo
-
Technical Analysis: 21/03/2024 - WTI crude oil futures slip from 4-month peak
-
Technical Analysis: 14/03/2024 - WTI oil futures fight with 80.80 bar
-
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
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis WTI CRUDE OIL - 15 min.