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 - 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

11%

72%

17%

My opinion

Bearish under 79.09 USD

My targets

78.27 USD (-0.40%)

77.60 USD (-1.26%)

My analysis

WTI CRUDE OIL is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 79.09 USD. The next support located at 78.27 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 77.60 USD. Below this support, sellers could then target 76.78 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

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

7.7

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

Additional analysis

Quotes

The WTI CRUDE OIL rating is 78.59 USD. The price is lower by -0.46% since the last closing and was traded between 78.45 USD and 79.63 USD over the period. The price is currently at +0.18% from its lowest and -1.31% from its highest.

78.45

79.63

78.59

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:

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

Technical analysis of this 15 min. chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. 89.29% 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 scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, 13 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

CCI indicator: bullish divergence

Type : Bullish

Timeframe : 15 minutes

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 15 minutes

The Central Indicators scanner found this result concerning these indicators:

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.

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Bullish harami

Type : Bullish

Timeframe : 15 minutes

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	68.52	75.27	78.55	78.59	79.90	80.86	81.56
Change (%)	-12.81%	-4.22%	-0.05%	-	+1.67%	+2.89%	+3.78%
Change	-10.07	-3.32	-0.04	-	+1.31	+2.27	+2.97
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 technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	31.19
MACD (12,26,9):	-0.0700
Directional Movement:	-9.60
AROON (14):	-28.57
DEMA (21):	78.98
Parabolic SAR (0,02-0,02-0,2):	79.46
Elder Ray (13):	-0.28
Super Trend (3,10):	79.47
Zig ZAG (10):	78.70
VORTEX (21):	0.9200
Stochastique (14,3,5):	19.49
TEMA (21):	78.81
Williams %R (14):	-84.75
Chande Momentum Oscillator (20):	-0.47
Repulse (5,40,3):	-0.3100
ROCnROLL:	2
TRIX (15,9):	-0.0100
Courbe Coppock:	0.53

MA7:	81.23
MA20:	82.66
MA50:	80.67
MA100:	76.15
MAexp7:	78.84
MAexp20:	79.06
MAexp50:	79.12
MAexp100:	79.21
Price / MA7:	-3.25%
Price / MA20:	-4.92%
Price / MA50:	-2.58%
Price / MA100:	+3.20%
Price / MAexp7:	-0.32%
Price / MAexp20:	-0.59%
Price / MAexp50:	-0.67%
Price / MAexp100:	-0.78%

Quotes : - 10 min delayed data - 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:

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

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