WTI CRUDE OIL - 1H - Technical analysis published on 04/14/2021 (GMT)
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- 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
78%
0%
22%
My opinion
Bullish above 60.90 USD
My targets
61.75 USD (+0.77%)
63.20 USD (+3.13%)
My analysis
The bullish trend is currently very strong on WTI CRUDE OIL. As long as the price remains above the support at 60.90 USD, you could try to benefit from the boom. The first bullish objective is located at 61.75 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 63.20 USD as an objective. Crossing it would then enable buyers to target 66.08 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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Additional analysis
Quotes
The WTI CRUDE OIL rating is 61.28 USD. On the day, this instrument gained +1.83% with the lowest point at 60.38 USD and the highest point at 61.31 USD. The deviation from the price is +1.49% for the low point and -0.05% for the high point.60.38
61.31
61.28
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:
Technical
A technical analysis in 1H of this WTI CRUDE OIL chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
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
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 59.95 | 60.59 | 60.90 | 61.28 | 61.75 | 63.20 | 66.08 |
| Change (%) | -2.17% | -1.13% | -0.62% | - | +0.77% | +3.13% | +7.83% |
| Change | -1.33 | -0.69 | -0.38 | - | +0.47 | +1.92 | +4.80 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58.73 | 59.19 | 59.68 | 60.14 | 60.63 | 61.09 | 61.58 |
| Camarilla | 59.92 | 60.01 | 60.09 | 60.18 | 60.27 | 60.35 | 60.44 |
| Woodie | 58.76 | 59.20 | 59.71 | 60.15 | 60.66 | 61.10 | 61.61 |
| Fibonacci | 59.19 | 59.55 | 59.77 | 60.14 | 60.50 | 60.72 | 61.09 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 53.60 | 55.61 | 57.47 | 59.48 | 61.34 | 63.35 | 65.21 |
| Camarilla | 58.26 | 58.61 | 58.97 | 59.32 | 59.68 | 60.03 | 60.38 |
| Woodie | 53.52 | 55.57 | 57.39 | 59.44 | 61.26 | 63.31 | 65.13 |
| Fibonacci | 55.61 | 57.09 | 58.01 | 59.48 | 60.96 | 61.88 | 63.35 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 45.74 | 51.50 | 56.47 | 62.23 | 67.20 | 72.96 | 77.93 |
| Camarilla | 58.50 | 59.48 | 60.47 | 61.45 | 62.43 | 63.42 | 64.40 |
| Woodie | 45.36 | 51.30 | 56.09 | 62.03 | 66.82 | 72.76 | 77.55 |
| Fibonacci | 51.50 | 55.60 | 58.13 | 62.23 | 66.33 | 68.86 | 72.96 |
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): | 68.57 | |
| MACD (12,26,9): | 0.2800 | |
| Directional Movement: | 21.22 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 60.97 | |
| Parabolic SAR (0,02-0,02-0,2): | 60.37 | |
| Elder Ray (13): | 0.44 | |
| Super Trend (3,10): | 60.43 | |
| Zig ZAG (10): | 61.18 | |
| VORTEX (21): | 1.2100 | |
| Stochastique (14,3,5): | 83.16 | |
| TEMA (21): | 61.08 | |
| Williams %R (14): | -17.00 | |
| Chande Momentum Oscillator (20): | 0.71 | |
| Repulse (5,40,3): | 0.3000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 2.18 |
| MA7: | 59.87 | |
| MA20: | 60.33 | |
| MA50: | 60.95 | |
| MA100: | 55.03 | |
| MAexp7: | 60.94 | |
| MAexp20: | 60.62 | |
| MAexp50: | 60.24 | |
| MAexp100: | 59.99 | |
| Price / MA7: | +2.36% | |
| Price / MA20: | +1.57% | |
| Price / MA50: | +0.54% | |
| Price / MA100: | +11.36% | |
| Price / MAexp7: | +0.56% | |
| Price / MAexp20: | +1.09% | |
| Price / MAexp50: | +1.73% | |
| Price / MAexp100: | +2.15% |
Quotes :
-
10 min delayed data
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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 April 14, 2021
-
WTI Crude Oil and USD/CAD Forecast April 13, 2021
-
WTI Crude Oil and USD/CAD Forecast April 12, 2021
-
WTI Crude Oil Forecast April 9, 2021
-
WTI Crude Oil and USD/CAD Forecast April 8, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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