WTI CRUDE OIL - 1H - Technical analysis published on 09/15/2020 (GMT)
- Who voted?
- 167
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 37.66 USD
My targets
38.55 USD (+0.73%)
40.22 USD (+5.10%)
My analysis
WTI CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 37.66 USD. The next resistance located at 38.55 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 40.22 USD. After this resistance, buyers could then target 41.87 USD. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
0
10
8.2
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 Faisal. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 38.27 USD. The price registered an increase of +2.71% on the session and was traded between 37.06 USD and 38.57 USD over the period. The price is currently at +3.26% from its lowest and -0.78% from its highest.37.06
38.57
38.27
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
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 | 36.13 | 36.83 | 37.66 | 38.27 | 38.55 | 40.22 | 41.87 |
Change (%) | -5.59% | -3.76% | -1.59% | - | +0.73% | +5.10% | +9.41% |
Change | -2.14 | -1.44 | -0.61 | - | +0.28 | +1.95 | +3.60 |
Level | Minor | Intermediate | Intermediate | - | Minor | Minor | Minor |
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 | 36.90 | 37.02 | 37.13 | 37.25 | 37.36 | 37.48 | 37.59 |
Camarilla | 37.18 | 37.20 | 37.22 | 37.24 | 37.26 | 37.28 | 37.30 |
Woodie | 36.90 | 37.02 | 37.13 | 37.25 | 37.36 | 37.48 | 37.59 |
Fibonacci | 37.02 | 37.11 | 37.16 | 37.25 | 37.34 | 37.39 | 37.48 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 32.32 | 34.22 | 35.78 | 37.68 | 39.24 | 41.14 | 42.70 |
Camarilla | 36.38 | 36.70 | 37.01 | 37.33 | 37.65 | 37.96 | 38.28 |
Woodie | 32.14 | 34.14 | 35.60 | 37.60 | 39.06 | 41.06 | 42.52 |
Fibonacci | 34.22 | 35.55 | 36.36 | 37.68 | 39.01 | 39.82 | 41.14 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 36.10 | 37.84 | 40.30 | 42.04 | 44.50 | 46.24 | 48.70 |
Camarilla | 41.61 | 41.99 | 42.38 | 42.76 | 43.15 | 43.53 | 43.92 |
Woodie | 36.46 | 38.02 | 40.66 | 42.22 | 44.86 | 46.42 | 49.06 |
Fibonacci | 37.84 | 39.44 | 40.44 | 42.04 | 43.64 | 44.64 | 46.24 |
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): | 63.62 | |
MACD (12,26,9): | 0.2500 | |
Directional Movement: | 12.01 | |
AROON (14): | 71.42 | |
DEMA (21): | 38.07 | |
Parabolic SAR (0,02-0,02-0,2): | 37.72 | |
Elder Ray (13): | 0.39 | |
Super Trend (3,10): | 37.42 | |
Zig ZAG (10): | 38.24 | |
VORTEX (21): | 1.1600 | |
Stochastique (14,3,5): | 86.31 | |
TEMA (21): | 38.27 | |
Williams %R (14): | -20.53 | |
Chande Momentum Oscillator (20): | 1.06 | |
Repulse (5,40,3): | 0.3900 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0600 | |
Courbe Coppock: | 4.47 |
MA7: | 37.54 | |
MA20: | 40.22 | |
MA50: | 40.99 | |
MA100: | 37.79 | |
MAexp7: | 38.13 | |
MAexp20: | 37.78 | |
MAexp50: | 37.56 | |
MAexp100: | 37.70 | |
Price / MA7: | +1.94% | |
Price / MA20: | -4.85% | |
Price / MA50: | -6.64% | |
Price / MA100: | +1.27% | |
Price / MAexp7: | +0.37% | |
Price / MAexp20: | +1.30% | |
Price / MAexp50: | +1.89% | |
Price / MAexp100: | +1.51% |
Quotes :
2020-09-15 19:57:54
-
15 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:
- WTI Crude Oil Forecast September 16, 2020
- WTI Crude Oil Forecast September 15, 2020
- WTI Crude Oil Forecast September 14, 2020
- WTI Crude Oil Forecast September 11, 2020
- WTI Crude Oil Forecast September 10, 2020
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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 - 1H