WTI CRUDE OIL - 1H - Technical analysis published on 05/03/2021 (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
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 63.96 USD
My targets
65.47 USD (+1.39%)
66.08 USD (+2.34%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on WTI CRUDE OIL. This is a positive signal for buyers. As long as the price remains above 63.96 USD, a purchase could be considered. The first bullish objective is located at 65.47 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 66.08 USD as an objective. Crossing it would then enable buyers to target 76.38 USD. In the event of a return below 63.96 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
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
7.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WTI CRUDE OIL price is 64.57 USD. The price registered an increase of +1.56% on the session and was traded between 62.91 USD and 64.68 USD over the period. The price is currently at +2.64% from its lowest and -0.17% from its highest.62.91
64.68
64.57
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
Here is a more detailed summary of the historical variations registered by WTI CRUDE OIL:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of WTI CRUDE OIL in 1H shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 63.20 | 63.96 | 64.53 | 64.57 | 65.47 | 66.08 | 76.38 |
| Change (%) | -2.12% | -0.94% | -0.06% | - | +1.39% | +2.34% | +18.29% |
| Change | -1.37 | -0.61 | -0.04 | - | +0.90 | +1.51 | +11.81 |
| Level | Major | Minor | Minor | - | Major | Intermediate | Major |
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 | 60.92 | 62.00 | 62.79 | 63.87 | 64.66 | 65.74 | 66.53 |
| Camarilla | 63.07 | 63.24 | 63.41 | 63.58 | 63.75 | 63.92 | 64.09 |
| Woodie | 60.78 | 61.93 | 62.65 | 63.80 | 64.52 | 65.67 | 66.39 |
| Fibonacci | 62.00 | 62.71 | 63.16 | 63.87 | 64.58 | 65.03 | 65.74 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 56.19 | 58.43 | 61.00 | 63.24 | 65.81 | 68.05 | 70.62 |
| Camarilla | 62.26 | 62.70 | 63.14 | 63.58 | 64.02 | 64.46 | 64.90 |
| Woodie | 56.37 | 58.51 | 61.18 | 63.32 | 65.99 | 68.13 | 70.80 |
| Fibonacci | 58.43 | 60.26 | 61.40 | 63.24 | 65.07 | 66.21 | 68.05 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51.14 | 54.39 | 58.98 | 62.23 | 66.82 | 70.07 | 74.66 |
| Camarilla | 61.42 | 62.14 | 62.86 | 63.58 | 64.30 | 65.02 | 65.74 |
| Woodie | 51.82 | 54.73 | 59.66 | 62.57 | 67.50 | 70.41 | 75.34 |
| Fibonacci | 54.39 | 57.38 | 59.23 | 62.23 | 65.22 | 67.07 | 70.07 |
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): | 62.66 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | 10.99 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 63.70 | |
| Parabolic SAR (0,02-0,02-0,2): | 63.04 | |
| Elder Ray (13): | 0.64 | |
| Super Trend (3,10): | 63.01 | |
| Zig ZAG (10): | 64.60 | |
| VORTEX (21): | 1.1100 | |
| Stochastique (14,3,5): | 76.97 | |
| TEMA (21): | 63.84 | |
| Williams %R (14): | -5.75 | |
| Chande Momentum Oscillator (20): | 1.05 | |
| Repulse (5,40,3): | 1.5700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 0.66 |
| MA7: | 63.44 | |
| MA20: | 62.03 | |
| MA50: | 62.13 | |
| MA100: | 57.37 | |
| MAexp7: | 63.94 | |
| MAexp20: | 63.83 | |
| MAexp50: | 63.84 | |
| MAexp100: | 63.60 | |
| Price / MA7: | +1.78% | |
| Price / MA20: | +4.09% | |
| Price / MA50: | +3.93% | |
| Price / MA100: | +12.55% | |
| Price / MAexp7: | +0.99% | |
| Price / MAexp20: | +1.16% | |
| Price / MAexp50: | +1.14% | |
| Price / MAexp100: | +1.53% |
Quotes :
-
10 min delayed data
-
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 May 3, 2021
-
WTI Crude Oil and USD/CAD Forecast April 30, 2021
-
WTI Crude Oil Forecast April 29, 2021
-
WTI Crude Oil Forecast April 28, 2021
-
WTI Crude Oil and USD/CAD Forecast April 27, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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