WTI CRUDE OIL - 1H - Technical analysis published on 11/15/2021 (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
11%
61%
28%
My opinion
Bearish under 80.81 USD
My targets
79.78 USD (-0.42%)
78.96 USD (-1.45%)
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 80.81 USD. The sellers' bearish objective is set at 79.78 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 78.96 USD. In case of crossing, the next objective would be the support located at 78.25 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.7
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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
WTI CRUDE OIL rating 80.12 USD. The price registered a decrease of -0.83% on the session with the lowest point at 79.83 USD and the highest point at 81.20 USD. The deviation from the price is +0.36% for the low point and -1.33% for the high point.79.83
81.20
80.12
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 78.25 | 78.96 | 79.78 | 80.12 | 80.81 | 82.32 | 83.42 |
| Change (%) | -2.33% | -1.45% | -0.42% | - | +0.86% | +2.75% | +4.12% |
| Change | -1.87 | -1.16 | -0.34 | - | +0.69 | +2.20 | +3.30 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Intermediate | Intermediate |
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 | 78.00 | 78.89 | 79.84 | 80.73 | 81.68 | 82.57 | 83.52 |
| Camarilla | 80.28 | 80.45 | 80.62 | 80.79 | 80.96 | 81.13 | 81.30 |
| Woodie | 78.03 | 78.91 | 79.87 | 80.75 | 81.71 | 82.59 | 83.55 |
| Fibonacci | 78.89 | 79.59 | 80.03 | 80.73 | 81.43 | 81.87 | 82.57 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 73.53 | 76.66 | 78.72 | 81.85 | 83.91 | 87.04 | 89.10 |
| Camarilla | 79.36 | 79.84 | 80.31 | 80.79 | 81.27 | 81.74 | 82.22 |
| Woodie | 73.01 | 76.39 | 78.20 | 81.58 | 83.39 | 86.77 | 88.58 |
| Fibonacci | 76.66 | 78.64 | 79.86 | 81.85 | 83.83 | 85.05 | 87.04 |
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): | 41.52 | |
| MACD (12,26,9): | -0.2200 | |
| Directional Movement: | -7.05 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 80.14 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.15 | |
| Elder Ray (13): | -0.30 | |
| Super Trend (3,10): | 81.32 | |
| Zig ZAG (10): | 80.11 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 16.55 | |
| TEMA (21): | 80.13 | |
| Williams %R (14): | -86.13 | |
| Chande Momentum Oscillator (20): | -0.62 | |
| Repulse (5,40,3): | -0.2500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 1.31 |
| MA7: | 81.59 | |
| MA20: | 82.40 | |
| MA50: | 77.96 | |
| MA100: | 74.04 | |
| MAexp7: | 80.20 | |
| MAexp20: | 80.42 | |
| MAexp50: | 80.87 | |
| MAexp100: | 81.31 | |
| Price / MA7: | -1.80% | |
| Price / MA20: | -2.77% | |
| Price / MA50: | +2.77% | |
| Price / MA100: | +8.21% | |
| Price / MAexp7: | -0.10% | |
| Price / MAexp20: | -0.37% | |
| Price / MAexp50: | -0.93% | |
| Price / MAexp100: | -1.46% |
Quotes :
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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/NOK Forecast November 15, 2021
-
WTI Crude Oil Forecast November 12, 2021
-
WTI Crude Oil Forecast November 11, 2021
-
WTI Crude Oil Forecast November 10, 2021
-
WTI Crude Oil and USD/CAD Forecast November 9, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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