WTI CRUDE OIL - 1H - Technical analysis published on 11/10/2021 (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:
Slightly bullish
Technical indicators
11%
72%
17%
My opinion
Bearish under 82.80 USD
My targets
81.47 USD (-1.18%)
79.70 USD (-3.32%)
My analysis
The strong short-term decline in WTI CRUDE OIL calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 82.80 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 81.47 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 79.70 USD as an objective. Crossing it would then enable sellers to target 78.25 USD. Be careful, a return to above 82.80 USD could jeopardize the reversal.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
2.7
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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 82.44 USD. On the day, this instrument lost -2.03% and was traded between 82.42 USD and 84.97 USD over the period. The price is currently at +0.02% from its lowest and -2.98% from its highest.82.42
84.97
82.44
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 (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 slightly bullish. 53.57% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
In fact, 13 technical indicators on 18 studied are currently positioned 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
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 76.38 | 78.25 | 79.70 | 82.44 | 82.80 | 84.65 | 86.79 |
| Change (%) | -7.35% | -5.08% | -3.32% | - | +0.44% | +2.68% | +5.28% |
| Change | -6.06 | -4.19 | -2.74 | - | +0.36 | +2.21 | +4.35 |
| Level | Major | Minor | Minor | - | Intermediate | Major | Minor |
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 | 79.56 | 80.67 | 82.41 | 83.52 | 85.26 | 86.37 | 88.11 |
| Camarilla | 83.37 | 83.63 | 83.89 | 84.15 | 84.41 | 84.67 | 84.93 |
| Woodie | 79.88 | 80.83 | 82.73 | 83.68 | 85.58 | 86.53 | 88.43 |
| Fibonacci | 80.67 | 81.76 | 82.43 | 83.52 | 84.61 | 85.28 | 86.37 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 71.42 | 74.84 | 78.05 | 81.47 | 84.68 | 88.10 | 91.31 |
| Camarilla | 79.45 | 80.06 | 80.66 | 81.27 | 81.88 | 82.49 | 83.09 |
| Woodie | 71.33 | 74.79 | 77.96 | 81.42 | 84.59 | 88.05 | 91.22 |
| Fibonacci | 74.84 | 77.37 | 78.93 | 81.47 | 84.00 | 85.56 | 88.10 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.09 | 71.02 | 77.54 | 81.47 | 87.99 | 91.92 | 98.44 |
| Camarilla | 81.18 | 82.13 | 83.09 | 84.05 | 85.01 | 85.97 | 86.92 |
| Woodie | 68.38 | 71.67 | 78.83 | 82.12 | 89.28 | 92.57 | 99.73 |
| Fibonacci | 71.02 | 75.02 | 77.48 | 81.47 | 85.47 | 87.93 | 91.92 |
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): | 40.02 | |
| MACD (12,26,9): | 0.0600 | |
| Directional Movement: | -10.17 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 83.85 | |
| Parabolic SAR (0,02-0,02-0,2): | 84.48 | |
| Elder Ray (13): | -0.91 | |
| Super Trend (3,10): | 84.47 | |
| Zig ZAG (10): | 82.62 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 22.66 | |
| TEMA (21): | 83.50 | |
| Williams %R (14): | -94.69 | |
| Chande Momentum Oscillator (20): | -1.66 | |
| Repulse (5,40,3): | -1.6700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 2.00 |
| MA7: | 81.94 | |
| MA20: | 82.65 | |
| MA50: | 77.29 | |
| MA100: | 73.84 | |
| MAexp7: | 83.43 | |
| MAexp20: | 83.68 | |
| MAexp50: | 83.14 | |
| MAexp100: | 82.61 | |
| Price / MA7: | +0.61% | |
| Price / MA20: | -0.25% | |
| Price / MA50: | +6.66% | |
| Price / MA100: | +11.65% | |
| Price / MAexp7: | -1.19% | |
| Price / MAexp20: | -1.48% | |
| Price / MAexp50: | -0.84% | |
| Price / MAexp100: | -0.21% |
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 Forecast November 10, 2021
-
WTI Crude Oil and USD/CAD Forecast November 9, 2021
-
WTI Crude Oil Forecast November 8, 2021
-
WTI Crude Oil and USD/CAD Forecast November 5, 2021
-
WTI Crude Oil and USD/NOK Forecast November 4, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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