WTI CRUDE OIL - 1H - Technical analysis published on 02/18/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 60.28 USD
My targets
61.58 USD (+0.45%)
63.20 USD (+3.08%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WTI CRUDE OIL. As long as you are above the support located at 60.28 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 61.58 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 63.20 USD as an objective. Crossing it would then enable buyers to target 76.38 USD. If the support 60.28 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
3.2
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This analysis was given by savas. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WTI CRUDE OIL rating 61.31 USD. The price registered an increase of +0.28% on the session and was between 60.37 USD and 62.26 USD. This implies that the price is at +1.56% from its lowest and at -1.53% from its highest.60.37
62.26
61.31
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
A study of price movements over other periods shows the following variations:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this WTI CRUDE OIL chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
On the 18 technical indicators analysed, 4 are bullish, 8 are neutral and 6 are 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 over resistance 1
Type : Neutral
Timeframe : Weekly
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
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 | 59.43 | 60.28 | 61.26 | 61.31 | 63.20 | 76.38 | 110.38 |
| Change (%) | -3.07% | -1.68% | -0.08% | - | +3.08% | +24.58% | +80.04% |
| Change | -1.88 | -1.03 | -0.05 | - | +1.89 | +15.07 | +49.07 |
| Level | Minor | Minor | Minor | - | Major | Major | Intermediate |
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 | 57.50 | 58.47 | 59.80 | 60.77 | 62.10 | 63.07 | 64.40 |
| Camarilla | 60.51 | 60.72 | 60.93 | 61.14 | 61.35 | 61.56 | 61.77 |
| Woodie | 57.69 | 58.56 | 59.99 | 60.86 | 62.29 | 63.16 | 64.59 |
| Fibonacci | 58.47 | 59.35 | 59.89 | 60.77 | 61.65 | 62.19 | 63.07 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 54.89 | 55.94 | 57.71 | 58.76 | 60.53 | 61.58 | 63.35 |
| Camarilla | 58.70 | 58.95 | 59.21 | 59.47 | 59.73 | 59.99 | 60.25 |
| Woodie | 55.24 | 56.12 | 58.06 | 58.94 | 60.88 | 61.76 | 63.70 |
| Fibonacci | 55.94 | 57.02 | 57.69 | 58.76 | 59.84 | 60.51 | 61.58 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42.43 | 44.80 | 49.18 | 51.55 | 55.93 | 58.30 | 62.68 |
| Camarilla | 51.69 | 52.31 | 52.93 | 53.55 | 54.17 | 54.79 | 55.41 |
| Woodie | 43.43 | 45.30 | 50.18 | 52.05 | 56.93 | 58.80 | 63.68 |
| Fibonacci | 44.80 | 47.38 | 48.98 | 51.55 | 54.13 | 55.73 | 58.30 |
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): | 47.63 | |
| MACD (12,26,9): | 0.0800 | |
| Directional Movement: | -11.40 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 61.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 61.94 | |
| Elder Ray (13): | -0.38 | |
| Super Trend (3,10): | 62.00 | |
| Zig ZAG (10): | 61.05 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 25.82 | |
| TEMA (21): | 61.26 | |
| Williams %R (14): | -57.41 | |
| Chande Momentum Oscillator (20): | -0.60 | |
| Repulse (5,40,3): | 0.1000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 1.54 |
| MA7: | 59.82 | |
| MA20: | 56.36 | |
| MA50: | 52.34 | |
| MA100: | 46.73 | |
| MAexp7: | 61.19 | |
| MAexp20: | 61.25 | |
| MAexp50: | 60.88 | |
| MAexp100: | 60.27 | |
| Price / MA7: | +2.49% | |
| Price / MA20: | +8.78% | |
| Price / MA50: | +17.14% | |
| Price / MA100: | +31.20% | |
| Price / MAexp7: | +0.20% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | +0.71% | |
| Price / MAexp100: | +1.73% |
Quotes :
2021-02-18 16:18:49
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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 February 18, 2021
-
WTI Crude Oil and USD/CAD Forecast February 17, 2021
-
WTI Crude Oil Forecast February 16, 2021
-
WTI Crude Oil Forecast February 15, 2021
-
WTI Crude Oil and USD/CAD Forecast February 12, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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