WTI CRUDE OIL - 1H - Technical analysis published on 10/28/2021 (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 bearish
Underlying:
Strongly bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 82.19 USD
My targets
81.27 USD (-0.72%)
80.78 USD (-1.32%)
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 82.19 USD. The sellers' bearish objective is set at 81.27 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 80.78 USD. In case of crossing, the next objective would be the support located at 76.38 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
5.2
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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 rating is 81.86 USD. The price is lower by -0.97% since the last closing and was between 80.58 USD and 82.37 USD. This implies that the price is at +1.59% from its lowest and at -0.62% from its highest.80.58
82.37
81.86
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of WTI CRUDE OIL indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, only 8 technical indicators out of 18 studied are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
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 which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 80.78 | 81.27 | 81.76 | 81.86 | 82.19 | 82.98 | 83.87 |
| Change (%) | -1.32% | -0.72% | -0.12% | - | +0.40% | +1.37% | +2.46% |
| Change | -1.08 | -0.59 | -0.10 | - | +0.33 | +1.12 | +2.01 |
| Level | Major | Minor | Minor | - | Minor | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 79.11 | 80.56 | 81.61 | 83.06 | 84.11 | 85.56 | 86.61 |
| Camarilla | 81.97 | 82.20 | 82.43 | 82.66 | 82.89 | 83.12 | 83.35 |
| Woodie | 78.91 | 80.46 | 81.41 | 82.96 | 83.91 | 85.46 | 86.41 |
| Fibonacci | 80.56 | 81.52 | 82.11 | 83.06 | 84.02 | 84.61 | 85.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.18 | 79.48 | 81.62 | 82.92 | 85.06 | 86.36 | 88.50 |
| Camarilla | 82.81 | 83.13 | 83.45 | 83.76 | 84.08 | 84.39 | 84.71 |
| Woodie | 78.60 | 79.69 | 82.04 | 83.13 | 85.48 | 86.57 | 88.92 |
| Fibonacci | 79.48 | 80.79 | 81.61 | 82.92 | 84.23 | 85.05 | 86.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.96 | 64.26 | 70.07 | 73.37 | 79.18 | 82.48 | 88.29 |
| Camarilla | 73.38 | 74.21 | 75.05 | 75.88 | 76.72 | 77.55 | 78.39 |
| Woodie | 62.22 | 64.89 | 71.33 | 74.00 | 80.44 | 83.11 | 89.55 |
| Fibonacci | 64.26 | 67.74 | 69.89 | 73.37 | 76.85 | 79.00 | 82.48 |
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): | 42.51 | |
| MACD (12,26,9): | -0.5600 | |
| Directional Movement: | -8.33 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 81.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 80.61 | |
| Elder Ray (13): | 0.03 | |
| Super Trend (3,10): | 82.41 | |
| Zig ZAG (10): | 81.90 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 46.13 | |
| TEMA (21): | 81.18 | |
| Williams %R (14): | -46.28 | |
| Chande Momentum Oscillator (20): | -0.81 | |
| Repulse (5,40,3): | 0.4000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 3.78 |
| MA7: | 83.24 | |
| MA20: | 81.01 | |
| MA50: | 74.56 | |
| MA100: | 72.90 | |
| MAexp7: | 81.66 | |
| MAexp20: | 82.15 | |
| MAexp50: | 82.89 | |
| MAexp100: | 83.12 | |
| Price / MA7: | -1.66% | |
| Price / MA20: | +1.05% | |
| Price / MA50: | +9.79% | |
| Price / MA100: | +12.29% | |
| Price / MAexp7: | +0.24% | |
| Price / MAexp20: | -0.35% | |
| Price / MAexp50: | -1.24% | |
| Price / MAexp100: | -1.52% |
Quotes :
-
10 min delayed data
-
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 and USD/CAD Forecast October 28, 2021
-
WTI Crude Oil Forecast October 27, 2021
-
WTI Crude Oil Forecast October 26, 2021
-
WTI Crude Oil and USDCAD Forecast October 25, 2021
-
WTI Crude Oil Forecast October 22, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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