WTI CRUDE OIL - 1H - Technical analysis published on 09/22/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 69.98 USD
My targets
72.67 USD (+1.52%)
73.14 USD (+2.18%)
My analysis
WTI CRUDE OIL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 69.98 USD. The next resistance located at 72.67 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 73.14 USD. After this resistance, buyers could then target 76.38 USD.
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
6.3
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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 71.58 USD. The price registered an increase of +1.55% on the session and was between 70.64 USD and 71.80 USD. This implies that the price is at +1.33% from its lowest and at -0.31% from its highest.70.64
71.80
71.58
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
A technical analysis in 1H of this WTI CRUDE OIL chart shows a bullish trend. 71.43% 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 scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
MACD 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 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
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 | 69.39 | 69.98 | 71.50 | 71.58 | 72.67 | 73.14 | 76.38 |
| Change (%) | -3.06% | -2.24% | -0.11% | - | +1.52% | +2.18% | +6.71% |
| Change | -2.19 | -1.60 | -0.08 | - | +1.09 | +1.56 | +4.80 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | Intermediate | Major |
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 | 67.34 | 68.36 | 69.43 | 70.45 | 71.52 | 72.54 | 73.61 |
| Camarilla | 69.92 | 70.11 | 70.30 | 70.49 | 70.68 | 70.87 | 71.07 |
| Woodie | 67.36 | 68.37 | 69.45 | 70.46 | 71.54 | 72.55 | 73.63 |
| Fibonacci | 68.36 | 69.16 | 69.66 | 70.45 | 71.25 | 71.75 | 72.54 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.30 | 67.91 | 69.93 | 71.54 | 73.56 | 75.17 | 77.19 |
| Camarilla | 70.96 | 71.30 | 71.63 | 71.96 | 72.29 | 72.63 | 72.96 |
| Woodie | 66.52 | 68.01 | 70.15 | 71.64 | 73.78 | 75.27 | 77.41 |
| Fibonacci | 67.91 | 69.29 | 70.15 | 71.54 | 72.92 | 73.78 | 75.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49.78 | 55.76 | 61.99 | 67.97 | 74.20 | 80.18 | 86.41 |
| Camarilla | 64.86 | 65.98 | 67.10 | 68.22 | 69.34 | 70.46 | 71.58 |
| Woodie | 49.91 | 55.82 | 62.12 | 68.03 | 74.33 | 80.24 | 86.54 |
| Fibonacci | 55.76 | 60.42 | 63.31 | 67.97 | 72.63 | 75.52 | 80.18 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 66.47 | |
| MACD (12,26,9): | 0.2300 | |
| Directional Movement: | 13.11 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 71.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 70.50 | |
| Elder Ray (13): | 0.46 | |
| Super Trend (3,10): | 70.80 | |
| Zig ZAG (10): | 71.68 | |
| VORTEX (21): | 1.1100 | |
| Stochastique (14,3,5): | 83.07 | |
| TEMA (21): | 71.61 | |
| Williams %R (14): | -15.13 | |
| Chande Momentum Oscillator (20): | 0.77 | |
| Repulse (5,40,3): | -0.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 2.71 |
| MA7: | 71.45 | |
| MA20: | 69.82 | |
| MA50: | 69.27 | |
| MA100: | 69.50 | |
| MAexp7: | 71.42 | |
| MAexp20: | 71.13 | |
| MAexp50: | 71.05 | |
| MAexp100: | 71.11 | |
| Price / MA7: | +0.18% | |
| Price / MA20: | +2.52% | |
| Price / MA50: | +3.33% | |
| Price / MA100: | +2.99% | |
| Price / MAexp7: | +0.22% | |
| Price / MAexp20: | +0.63% | |
| Price / MAexp50: | +0.75% | |
| Price / MAexp100: | +0.66% |
Quotes :
-
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 and USD/CAD Forecast September 22, 2021
-
WTI Crude Oil Forecast September 21, 2021
-
WTI Crude Oil and USD/CAD Forecast September 20, 2021
-
WTI Crude Oil Forecast September 17, 2021
-
WTI Crude Oil Forecast September 16, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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