WTI CRUDE OIL - 1H - Technical analysis published on 09/15/2020 (GMT)
- Who voted?
- 171
- 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 (+0.42%)
40.22 USD (+4.77%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 37.66 USD, you could try to benefit from the boom. The first bullish objective is located at 38.55 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 40.22 USD as an objective. Crossing it would then enable buyers to target 41.87 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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 38.39 USD. The price registered an increase of +3.03% on the session and was traded between 37.06 USD and 38.57 USD over the period. The price is currently at +3.59% from its lowest and -0.47% from its highest.37.06
38.57
38.39
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 this 1H chart of WTI CRUDE OIL indicates that the overall trend is strongly bullish. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
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
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 38.39 | 38.55 | 40.22 | 41.87 |
Change (%) | -5.89% | -4.06% | -1.90% | - | +0.42% | +4.77% | +9.06% |
Change | -2.26 | -1.56 | -0.73 | - | +0.16 | +1.83 | +3.48 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 67.48 | |
MACD (12,26,9): | 0.2700 | |
Directional Movement: | 13.15 | |
AROON (14): | 71.43 | |
DEMA (21): | 38.16 | |
Parabolic SAR (0,02-0,02-0,2): | 37.82 | |
Elder Ray (13): | 0.39 | |
Super Trend (3,10): | 37.44 | |
Zig ZAG (10): | 38.39 | |
VORTEX (21): | 1.1500 | |
Stochastique (14,3,5): | 86.31 | |
TEMA (21): | 38.35 | |
Williams %R (14): | -11.92 | |
Chande Momentum Oscillator (20): | 0.94 | |
Repulse (5,40,3): | 0.4700 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0700 | |
Courbe Coppock: | 4.61 |
MA7: | 37.55 | |
MA20: | 40.22 | |
MA50: | 40.99 | |
MA100: | 37.79 | |
MAexp7: | 38.20 | |
MAexp20: | 37.84 | |
MAexp50: | 37.60 | |
MAexp100: | 37.71 | |
Price / MA7: | +2.24% | |
Price / MA20: | -4.55% | |
Price / MA50: | -6.34% | |
Price / MA100: | +1.59% | |
Price / MAexp7: | +0.50% | |
Price / MAexp20: | +1.45% | |
Price / MAexp50: | +2.10% | |
Price / MAexp100: | +1.80% |
Quotes :
2020-09-15 20:59:59
-
15 min delayed data
-
NYMEX Futures
News
The latest news and videos published on WTI CRUDE OIL at the time of the analysis were 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