WTI CRUDE OIL - 15 min. - Technical analysis published on 05/03/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
39%
33%
My opinion
Bearish under 79.09 USD
My targets
78.27 USD (-0.83%)
77.60 USD (-1.69%)
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 79.09 USD. The sellers' bearish objective is set at 78.27 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 77.60 USD. In case of crossing, the next objective would be the support located at 76.78 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.4
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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 78.93 USD. The price is lower by -0.03% since the last closing and was between 78.80 USD and 79.63 USD. This implies that the price is at +0.16% from its lowest and at -0.88% from its highest.78.80
79.63
78.93
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Near a 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. 82.14% 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 is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 15 minutes
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : 15 minutes
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 | 68.52 | 75.27 | 78.55 | 78.93 | 79.90 | 80.86 | 81.56 |
| Change (%) | -13.19% | -4.64% | -0.48% | - | +1.23% | +2.45% | +3.33% |
| Change | -10.41 | -3.66 | -0.38 | - | +0.97 | +1.93 | +2.63 |
| Level | Major | Intermediate | Major | - | Intermediate | Minor | 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 | 76.78 | 77.60 | 78.27 | 79.09 | 79.76 | 80.58 | 81.25 |
| Camarilla | 78.54 | 78.68 | 78.81 | 78.95 | 79.09 | 79.22 | 79.36 |
| Woodie | 76.72 | 77.56 | 78.21 | 79.05 | 79.70 | 80.54 | 81.19 |
| Fibonacci | 77.60 | 78.17 | 78.52 | 79.09 | 79.66 | 80.01 | 80.58 |
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 | 68.68 | 73.75 | 76.38 | 81.45 | 84.08 | 89.15 | 91.78 |
| Camarilla | 76.88 | 77.59 | 78.29 | 79.00 | 79.71 | 80.41 | 81.12 |
| Woodie | 67.45 | 73.14 | 75.15 | 80.84 | 82.85 | 88.54 | 90.55 |
| Fibonacci | 73.75 | 76.70 | 78.51 | 81.45 | 84.40 | 86.21 | 89.15 |
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): | 44.53 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | 9.55 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 79.20 | |
| Parabolic SAR (0,02-0,02-0,2): | 79.63 | |
| Elder Ray (13): | -0.08 | |
| Super Trend (3,10): | 78.90 | |
| Zig ZAG (10): | 79.08 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 53.83 | |
| TEMA (21): | 79.22 | |
| Williams %R (14): | -71.08 | |
| Chande Momentum Oscillator (20): | 0.14 | |
| Repulse (5,40,3): | -0.4600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.39 |
| MA7: | 81.28 | |
| MA20: | 82.68 | |
| MA50: | 80.68 | |
| MA100: | 76.15 | |
| MAexp7: | 79.20 | |
| MAexp20: | 79.18 | |
| MAexp50: | 79.17 | |
| MAexp100: | 79.24 | |
| Price / MA7: | -2.89% | |
| Price / MA20: | -4.54% | |
| Price / MA50: | -2.17% | |
| Price / MA100: | +3.65% | |
| Price / MAexp7: | -0.34% | |
| Price / MAexp20: | -0.32% | |
| Price / MAexp50: | -0.30% | |
| Price / MAexp100: | -0.39% |
Quotes :
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10 min delayed data
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NYMEX Futures
News
Don't forget to follow the news on WTI CRUDE OIL. At the time of publication of this analysis, the latest news 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.
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