WTI CRUDE OIL - 15 min. - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bullish
Technical indicators
22%
28%
50%
My opinion
Bullish above 78.36 USD
My targets
79.04 USD (+0.47%)
80.06 USD (+1.77%)
My analysis
The strong short-term increase for WTI CRUDE OIL reinforces the current slightly bullish trend. As long as the price remains above 78.36 USD, you could take advantage of this bullish acceleration. The first bullish objective is located at 79.04 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 80.06 USD as an objective. Crossing it would then enable buyers to target 80.74 USD. A return to 78.36 USD would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
2.3
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 78.67 USD. The price has increased by +0.83% since the last closing and was traded between 78.28 USD and 78.75 USD over the period. The price is currently at +0.50% from its lowest and -0.10% from its highest.78.28
78.75
78.67
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 slightly bullish. Only 57.14% of the signals given by moving averages are bullish. This slightly bullish trend is reinforced by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 15 minutes
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 15 minutes
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or 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
Price is back over the pivot point
Type : Bullish
Timeframe : 15 minutes
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 76.89 | 77.78 | 78.55 | 78.67 | 79.30 | 79.96 | 81.56 |
| Change (%) | -2.26% | -1.13% | -0.15% | - | +0.80% | +1.64% | +3.67% |
| Change | -1.78 | -0.89 | -0.12 | - | +0.63 | +1.29 | +2.89 |
| Level | Minor | Intermediate | Major | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 75.64 | 76.66 | 77.34 | 78.36 | 79.04 | 80.06 | 80.74 |
| Camarilla | 77.55 | 77.71 | 77.86 | 78.02 | 78.18 | 78.33 | 78.49 |
| Woodie | 75.47 | 76.58 | 77.17 | 78.28 | 78.87 | 79.98 | 80.57 |
| Fibonacci | 76.66 | 77.31 | 77.71 | 78.36 | 79.01 | 79.41 | 80.06 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 73.71 | 75.30 | 76.78 | 78.37 | 79.85 | 81.44 | 82.92 |
| Camarilla | 77.42 | 77.70 | 77.98 | 78.26 | 78.54 | 78.82 | 79.10 |
| Woodie | 73.66 | 75.27 | 76.73 | 78.34 | 79.80 | 81.41 | 82.87 |
| Fibonacci | 75.30 | 76.47 | 77.20 | 78.37 | 79.54 | 80.27 | 81.44 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 52.55 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | 4.80 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 78.61 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.74 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 78.47 | |
| Zig ZAG (10): | 78.58 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 19.09 | |
| TEMA (21): | 78.62 | |
| Williams %R (14): | -68.00 | |
| Chande Momentum Oscillator (20): | -0.04 | |
| Repulse (5,40,3): | 0.0400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.02 |
| MA7: | 78.67 | |
| MA20: | 80.44 | |
| MA50: | 80.98 | |
| MA100: | 76.85 | |
| MAexp7: | 78.59 | |
| MAexp20: | 78.55 | |
| MAexp50: | 78.50 | |
| MAexp100: | 78.56 | |
| Price / MA7: | -0% | |
| Price / MA20: | -2.20% | |
| Price / MA50: | -2.85% | |
| Price / MA100: | +2.37% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | +0.15% | |
| Price / MAexp50: | +0.22% | |
| Price / MAexp100: | +0.14% |
Quotes :
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10 min delayed data
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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
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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.
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