WTI CRUDE OIL - 1H - Technical analysis published on 01/04/2021 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 47.52 USD
My targets
46.60 USD (-1.50%)
46.25 USD (-2.24%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WTI CRUDE OIL as long as the price remains well below 47.52 USD. The sellers” bearish objective is set at 46.60 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 46.25 USD. In case of crossing, the next objective would be the support located at 45.89 USD.
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
0
10
6.1
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 47.31 USD. The price is lower by -2.49% since the last closing and was traded between 47.18 USD and 49.83 USD over the period. The price is currently at +0.28% from its lowest and -5.06% from its highest.47.18
49.83
47.31
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of WTI CRUDE OIL in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
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 | 45.89 | 46.25 | 46.60 | 47.31 | 47.52 | 48.42 | 48.66 |
Change (%) | -3.00% | -2.24% | -1.50% | - | +0.44% | +2.35% | +2.85% |
Change | -1.42 | -1.06 | -0.71 | - | +0.21 | +1.11 | +1.35 |
Level | Minor | Minor | Minor | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 47.19 | 47.48 | 48.00 | 48.29 | 48.81 | 49.10 | 49.62 |
Camarilla | 48.30 | 48.37 | 48.45 | 48.52 | 48.59 | 48.67 | 48.74 |
Woodie | 47.31 | 47.54 | 48.12 | 48.35 | 48.93 | 49.16 | 49.74 |
Fibonacci | 47.48 | 47.79 | 47.98 | 48.29 | 48.60 | 48.79 | 49.10 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 46.23 | 46.87 | 47.69 | 48.33 | 49.15 | 49.79 | 50.61 |
Camarilla | 48.12 | 48.25 | 48.39 | 48.52 | 48.65 | 48.79 | 48.92 |
Woodie | 46.33 | 46.92 | 47.79 | 48.38 | 49.25 | 49.84 | 50.71 |
Fibonacci | 46.87 | 47.42 | 47.77 | 48.33 | 48.88 | 49.23 | 49.79 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 39.80 | 41.86 | 45.19 | 47.25 | 50.58 | 52.64 | 55.97 |
Camarilla | 47.04 | 47.53 | 48.03 | 48.52 | 49.01 | 49.51 | 50.00 |
Woodie | 40.44 | 42.18 | 45.83 | 47.57 | 51.22 | 52.96 | 56.61 |
Fibonacci | 41.86 | 43.92 | 45.19 | 47.25 | 49.31 | 50.58 | 52.64 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 35.40 | |
MACD (12,26,9): | -0.2500 | |
Directional Movement: | -12.64 | |
AROON (14): | -85.71 | |
DEMA (21): | 48.03 | |
Parabolic SAR (0,02-0,02-0,2): | 49.11 | |
Elder Ray (13): | -0.73 | |
Super Trend (3,10): | 49.01 | |
Zig ZAG (10): | 47.29 | |
VORTEX (21): | 0.9100 | |
Stochastique (14,3,5): | 14.82 | |
TEMA (21): | 47.72 | |
Williams %R (14): | -95.09 | |
Chande Momentum Oscillator (20): | -2.31 | |
Repulse (5,40,3): | -0.9900 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0100 | |
Courbe Coppock: | 5.28 |
MA7: | 48.03 | |
MA20: | 47.38 | |
MA50: | 43.66 | |
MA100: | 42.12 | |
MAexp7: | 47.81 | |
MAexp20: | 48.27 | |
MAexp50: | 48.36 | |
MAexp100: | 48.26 | |
Price / MA7: | -1.50% | |
Price / MA20: | -0.15% | |
Price / MA50: | +8.36% | |
Price / MA100: | +12.32% | |
Price / MAexp7: | -1.05% | |
Price / MAexp20: | -1.99% | |
Price / MAexp50: | -2.17% | |
Price / MAexp100: | -1.97% |
Quotes :
2021-01-04 20:51:25
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10 min delayed data
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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:
- WTI Crude Oil Forecast January 5, 2021
- WTI Crude Oil Forecast January 4, 2020
- WTI Crude Oil and DAX Forecast December 31, 2020
- WTI Crude Oil Forecast December 30, 2020
- WTI Crude Oil Forecast December 29, 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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