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 05/16/2024 (GMT)

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Timeframe : 15 min.
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bullish

Technical indicators

61%

33%

My opinion

Bullish above 78.08 USD

My targets

79.47 USD (+0.48%)

80.30 USD (+1.53%)

My analysis

All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on WTI CRUDE OIL as long as the price remains well above 78.08 USD. The buyers' bullish objective is set at 79.47 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 80.30 USD. If there is any crossing, the next objective would be the resistance located at 81.69 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.

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

Force

5.4

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 price is 79.09 USD. The price has increased by +0.59% since the last closing and was traded between 78.20 USD and 79.17 USD over the period. The price is currently at +1.14% from its lowest and -0.10% from its highest.

78.20

79.17

79.09

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

Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:

The Central Records scanner for higher/lower results shows an item:

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 bullish. 71.43% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : 15 minutes

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : 15 minutes

In fact, 11 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 15 minutes

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 15 minutes

Other results related to technical indicators were also found by the Central Indicators scanner:

RSI indicator is back under 50

Type : Bearish

Timeframe : 15 minutes

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : 15 minutes

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	77.78	78.25	78.55	79.09	79.29	79.96	81.56
Change (%)	-1.66%	-1.06%	-0.68%	-	+0.25%	+1.10%	+3.12%
Change	-1.31	-0.84	-0.54	-	+0.20	+0.87	+2.47
Level	Intermediate	Minor	Major	-	Minor	Intermediate	Minor

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	75.03	75.86	77.25	78.08	79.47	80.30	81.69
Camarilla	78.02	78.22	78.43	78.63	78.83	79.04	79.24
Woodie	75.30	76.00	77.52	78.22	79.74	80.44	81.96
Fibonacci	75.86	76.71	77.24	78.08	78.93	79.46	80.30

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):	57.70
MACD (12,26,9):	-0.0400
Directional Movement:	-2.45
AROON (14):	-35.71
DEMA (21):	78.61
Parabolic SAR (0,02-0,02-0,2):	78.36
Elder Ray (13):	0.17
Super Trend (3,10):	78.32
Zig ZAG (10):	78.90
VORTEX (21):	0.9700
Stochastique (14,3,5):	94.99
TEMA (21):	78.72
Williams %R (14):	-2.63
Chande Momentum Oscillator (20):	0.40
Repulse (5,40,3):	0.3700
ROCnROLL:	1
TRIX (15,9):	-0.0200
Courbe Coppock:	0.10

MA7:	78.76
MA20:	80.31
MA50:	81.02
MA100:	76.91
MAexp7:	78.81
MAexp20:	78.69
MAexp50:	78.75
MAexp100:	78.70
Price / MA7:	+0.42%
Price / MA20:	-1.52%
Price / MA50:	-2.38%
Price / MA100:	+2.83%
Price / MAexp7:	+0.36%
Price / MAexp20:	+0.51%
Price / MAexp50:	+0.43%
Price / MAexp100:	+0.50%

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:

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

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